Legal Question in Wills and Trusts in California

My family is currently going through the probate court on my parents house. My brother has hired a lawyer and he has contacted me to sign a form that I'm not sure what I'm consenting to if I sign. The form states Exector (my brother) of the estate proposes to obtain a mortgage on the property sufficient to pay the other 3 benes the cash equivalent to their 25% interest in the estate. Real property transaction a. the material terms of the transaction are specified in item 3 includeing any sales price and the amount of or method of calculating any commission or comp to an agent/broker. B. $290,000 is the value of the subject property in the probate inventory.


Asked on 8/03/09, 2:23 pm

1 Answer from Attorneys
Larry L. Doan Law Office of Larry L. Doan

Without knowing the terms in the form and of the proposed real estate transaction, it appears that your brother wants to mortgage the property and use the cash out to pay you and the other beneficiaries off the values of your shares in the property. If you want to hang on to the property then you would not want that deal. You should consult an attorney to examine and truly understand the terms of what your brother is proposing to you.

Read more
Answered on 8/03/09, 6:12 pm


Related Questions & Answers

More Probate, Trusts, Wills & Estates questions and answers in California