Legal Question in Wills and Trusts in California
8 kids inherited a family cabin and most want to keep it. Some live too far away to use it. what is the best way to handle this?
1 Answer from Attorneys
First, the owners should have a written agreement on the rules for co-ownership. Otherwise any individual owner s who don't want the cabin could sue to sell the cabin to get their share. The unwilling kids need to be bought out, which raises other issues if the remaining members are unable to contribute equally to the buy out. Lastly, if the Trust or Estate has not been fully distributed, then the ones who do not want to own a piece of the cabin could take more cash from the Estate in lieu of a share of the cabin. Those who want to keep the cabin should really meet with a lawyer to address these co-ownership issues.