Legal Question in Real Estate Law in Maryland

payout of a house between children

In 2004 we put my mother's house in my brother's name. He is now ready to buy my sister and I out of our share. Would the amount be based on what the house was appraised for in 2004, or the current value on 2007?


Asked on 3/05/07, 3:44 pm

1 Answer from Attorneys
Robert Sher Wagshal and Sher

Re: payout of a house between children

If you all agree that, even though the house was put in your brother's name in '04, you all considered it to be a jointly owned asset, then he should buy you out at today's value. Otherwise you would be making him an interest free loan for 3 years. This is especially so if he was occupying the house during this time, which you didn't indicate.

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Answered on 3/05/07, 3:52 pm


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