Legal Question in Real Estate Law in Maryland
real estate buyout on home
my father purchased a house with his own money and a life insurance check my mother left for my brothers and i. when my mother was alive she put my oldest brother name on the life insurance check instead of my father's because she wanted my brothers and i to split the check and both me and my other brother were young at the time. my father also put my oldest brother name on the deed of the house just in case if my father were to pass he would leave the property to my brothers and i. my brother claimed he invested the life insurance money left by mother into the property, and now wants remove his name from the deed and retrieve the money he invested (which was the money left by my mother's life insurance). if he didn't invest any of his own money, can he render or take any legal action against our home?
1 Answer from Attorneys
Re: real estate buyout on home
If your brother and father can't work out a "buyout" agreement, your brother will have to file a court action for partition. He would ask the court to appoint a trustee to sell the property and divide up the proceeds between the owners of record.
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