Legal Question in Real Estate Law in Florida
inherited house
My brother sister and I inherited house. I am going to buy their shares and retain ownership. What document will be required. Will this be considered a sale even though it is a distribution from--name removed--parents' estate.
3 Answers from Attorneys
Re: inherited house
Once the will is probated, the personal representative can convey the appropriate deed. You will be buying their shares.
Re: inherited house
NOTE: This communication is NOT intended as and should NOT be interpreted as legal advice. Rather, it is ONLY provided FOR a general discussion of legal principles. The facts you provided DO NOT provide ALL of the details necessary to FULLY and PROPERLY respond to the question you have posed. You should NOT rely on or take action based on this communication without first presenting ALL relevant details to a competent attorney you have retained and then receiving the attorney�s individualized advice for you. By reading the Response below, you AGREE: (i) that the opinion expressed is NOT intended to be legal advice and DOES NOT constitute legal advice to you or any person reviewing such information; and (ii) DOES NOT, create any attorney-client relationship and WILL NOT be considered an attorney-client privileged communication. If you do not agree, then stop right here, and do not read any further.
Reply: The deed can be prepared by the attorney for the estate or you can have your brother and sister execute a quit claim deed after the estate is completed and the property is retitled to the three of you. It will be deemed a sale and taxable as such.
Re: inherited house
You question implies that the property has already been conveyed from the estate to you and your brother and sister. Accordingly, a deed from them will be required. A single deed would suffice. You should seek the advice of competent counsel.