Legal Question in Real Estate Law in District of Columbia

Re: family home

The answer depends on how you and your sister hold title. If as joint tenants wth right of survivorship, your sister would inherit your interest. If as tenants in common, your interest would pass according to your will or the laws of intestacy, subject to claims of creditors. I would advise consulting an attorney.

Re: family home

If you can afford to do it, this would be a good time to consider buying your sister's interest in the property.

I say that for two reasons: (1) because the market has slowed somewhat and so the market value will be more reasonable than it was 18 months ago and because interest are still pretty reasonable; (2) because you will avoid any possibility of future issues with your sister regarding ownership of the house.

I currently represent two different families in horrible disputes over home ownership in circumstances not too dissimilar from your own.

The problem is that even though things are fine now, what happens when your sister suddenly needs money and wants to sell? or what happens if your sister dies before you do, and then her heirs want to sell. Suddenly you find yourself in a position of having a possibility for dispute with the built-in cost of having lawyers involved (which is not good).

Finally, the occasion of your marriage offers a good reason for you to approach your sister with an offer to purchase her share now.

In the end, you should consult with an attorney (and your accountant) to make sure that you understand all of the precise details that might apply to your facts, including the possibility of a prenuptial agreement with regard to your future spouse.