Legal Question in Wills and Trusts in Maryland
Real estate - inheritance question
Me and my 3 sisters inherited our parents home. 1 sister still lives there. Because of this the rest of us have no way to collect on our inheritance. We love our sister and do not want to cause her pain buy sueing her. She has no money and cannot buy us out. We must pay the property taxes for her because she is poor. Is there some way we ( the remaining siblings ) can collect on our inheritance without rendering our sister homeless? I've heard about reverse mortages but there are 4 of us as owners and none of us are in our sixtys. Any suggestions on how we may get some money from our inheritance before we are too old to care?
1 Answer from Attorneys
Re: Real estate - inheritance question
Sell the house and divide the proceeds evenly among the siblings. Hopefully there will be enough for your poor sister to put some significant equity into a less expensive home (like a condo).
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