Legal Question in Wills and Trusts in Arkansas
rights of 1/3
My father passed and left the house to my brother, sister and my slef. My brother wants to live in the house, He claims to want to buy it from my sister and my self, he has lived there for three years and has done nothing. What are my rights to bring this to closure, with my sister and my self compensated for our 1/3 each of the house.
1 Answer from Attorneys
Re: rights of 1/3
You should get an appraisal or valuation of the property. Then give your brother a chance to buy out your share of the property. I say that assuming you are willing to sell your part.
If this doesn't work, you have some more options. You may want to discuss having your brother pay rent to you and your sister for your share of ownership of the property.
Hopefully, you can work this out between the three of you in a way that is fair and satisfactory to each of you.
If none of this works, and there is no way for the three of you to settle this on your own, you can go to court and request a judge to force a division of the property. If successful, that would require the property to be sold and the proceeds divided, or for their to be a rental amount set to be paid to you and your sister. If the judge orders it sold, your brother would still have the right to purchase it from you and your sister, if he chose to.
I would be glad to discuss this with you further, if needed. My initial consultation is free.