Legal Question in Family Law in Louisiana
kids gets half of equity when dad sells house
Is a widowed man with 7 adult kids required to give the kids half the equity when he sells his house?
Asked on 2/05/02, 3:56 pm
1 Answer from Attorneys
Andrew Casanave
Andrew M. Casanave
Re: kids gets half of equity when dad sells house
If you owned the house as community property with their mother, and if she did not write a will giving her half to someone other than them, then any bank or finance company that lends the money to your purchaser will require the sale to be from you and your children. One half is yours and her half is theirs. Whoever is(are) her
heir(s), whether the children or someone named in the will, is a necessary party to the sale. You cannot sell what they own.
Answered on 2/05/02, 5:39 pm