Legal Question in Wills and Trusts in Florida
My mother is going to will her home & property to my brother & I, 50/50. It is a rather valuable piece of land near a nice Gulf beach. My brother wants it for his retirement home. I live overseas and don't really have any long term desire for it.
My question is: How is a piece of property "split up" between siblings who inherit it equally, when one genuinely wants it and the other doesn't ?
Thanks for your help.
2 Answers from Attorneys
There are many ways. One of the simplest is to just sell your interest to him. Treat it just like any other sale of realty.
If you don't sell to him then rent your half to him. If you want to sell and divide the proceeds then have him buy you out after an appropriate appraisal has been done or if he will not sell have the court partition the property which will result in a forced sell.
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