Legal Question in Real Estate Law in Massachusetts

buying out family members

one house left to 4 children after parents passed away. all 4 names are on the deed. 2 owners live in the house and want to keep it. 2 owner do not live in the house and want to sell it now and receive a total portion of their share of the house. the 2 owners that live in the house have made home improvements and upkeep of property and upkeep of utilities and taxes over the period of one year and want to buy out the 2 owners that want to sell at the value of the home 1 year ago before improvements were made. the 2 owners that donot live in the home want the total market value of the home now in its improved condition. who is entitled to what in the sale of the house?


Asked on 8/26/01, 12:27 pm

1 Answer from Attorneys
John Pierce Law Office of John R. Pierce

Re: buying out family members

I would not express an opinion on this specific case without knowing all the facts. I'd especially want to know what were the improvements, how much they cost, and what agreements, if any, there were among the four people. I would say that, as a general rule, the owners are entitled to the market value of the property today. But I am not saying that that is necessarily true in this particular instance.

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Answered on 9/04/01, 8:10 am


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