Legal Question in Real Estate Law in Indiana
Four siblings and myself are wanting to sell the residentual property of our parents on contract to one of the siblings. The property is still in the Family Trust name, and we are equal beneficiaries of the trust. I would like to draw up a contract with the trustees acting for the trust, to sell to her and the funds split between the remainder of benefactors. I am not sure of the technique, and what other forms or statements I will need. The Auditors Office said I will need a "Sales Disclosure" and is that a form I can get online or is it a statement only? By notorizing these and filing at the county court house make this to be legal and binding?
1 Answer from Attorneys
Sellers Residential Real Estate Sales Disclosure Form and the Auditor's form ( they are not ths same) can be obtained at www.in.gov You may also have to provide a lead based disclosure and pamphlet.
You really should hire counsel. Real estate sales are significant transactions both financially and in terms of technical procedures, especially since you have a trust, too.
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