Legal Question in Wills and Trusts in Kansas
My dad was ill and decided to sell his house to my sister and her family for 60,000.00. He intended to pay off his morgage of 30 something thousand and then live with them on the rest of the money until his death. My sister quickly sold all her belongings and moved into the home. Then they couldnt get the loan for the home. Two months later my dad died and the house is still in his name. The home appraised for over $90,000.00. Do we still have to honor his wishes in selling the home to my sister as (NOW the bank says they will give her the loan), for 30,000 less, when his will merely states his property is to be divided equally between all 4 children.
1 Answer from Attorneys
A contract for the sale of real estate, even when between related parties, must be in writing to be enforceable (by your sister in this case); your facts do not indicate a written contract was in place so I have assumed one was not. Because the house was in your father's name a probate needs to be opened in the county where your father lived at the time of his death with the property (including house) being sold at fair market value (to your sister or any other purchaser), and after payment of taxes and expenses the proceeds will be distributed equally. Thus, your sister will in effect pay 75% of the value of the house if she is the purchaser. Be sure your father's Will is filed with the Court within 6 months of the date of his death. Please contact me if you need assistance. Good luck.
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