Legal Question in Wills and Trusts in Alabama
division of property left in will
We are 3 sisters who is being given by the exec. 60 acres of land after a death. The property in in the exec. name. There is a will but the person did not own the land at the time of death. What is the best way to handle this if 2 sisters want to keep the land and one sister wants to sell. the sisters do not get along and one sister loathes another sister. I would like to know the best way to handle this situation. Could the land be set up like an LLC?
2 Answers from Attorneys
Re: division of property left in will
Not sure if I understand your question but in general, when multiple beneficiaries cannot agree on how to jointly own property, a "suit for partitiion" of the land can be brought by any owner to force everyone to sell the land and split the proceeds. Sometimes the threat of this is enough to make people play nice. If the suit is brought, everyone pays the costs, so you can save money by finding common ground. Have you considered getting a mediator involved?
William G. Nolan
www.NolanElderLaw.com
Re: division of property left in will
Your Q seems to present the situation where Executor sibling is arguably the legal title holder, but your parent expected all 3 children to share in the property. Is that correct? if so, there may be many problems in that arrangement, not the least of which might involve the IRS. Executor sibling might have a moral duty to comply, but if it comes down to your word against their, the burden is on you to show that your sibling is not the legal and equitable titleowner. The IRS might take the position that your sibling is making a gift to you and a taxable gift at that, if your share of the property were to exceed more than $12,000 in value. Why was the property not in your parent's name? how did it get into the executor's name? perhaps that involved a taxable gift? You each should see a local attorney before proceeding forward. Are there creditors of the parent's estate? Was the property placed in executor's name to avoid those creditors or perhaps a nursing home? may be legal landmines all about in your situation. Call a local attorney and let us know if we can be of further assistance to them and you. Good luck and God Bless! Chip
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