Legal Question in Wills and Trusts in Illinois
Property Settlement
Please note; Mother deceased. If my Father passes away and my Brother is living in his house yet, his will calls for his assests to be split equally between me and my brother - what can I do to get him out of the house? He is incapable of buying out what would be my portion of the estate. Do I have legal grounds to have him removed from the house?
2 Answers from Attorneys
Re: Property Settlement
Adding to Mark Golub's response. An exception under Illinois law is if the house is in a land trust. Then, your brother can live in the house until the land trust expires, and all he owes you is an accounting. When the trust expires, (and trusts can last up to 20 years), then the house can be sold and the proceeds split.
Re: Property Settlement
Generally, if a home is left to two heirs and neither can buy the other's interest out, one of two things might happen. If the estate has sufficient other assets to equalize the value each heir receives, then the heirs can agree that one will get the home and the other will get the other assets. If there are not enough assets to equalize the inheritance, the home will be sold and the proceeds will be split.