Legal Question in Wills and Trusts in Michigan

Hello...

My father passed 3 years ago. Since then, I have moved into the house and placed renters in the back to cover the mortgage. All of this was agreed upon with my siblings. Now, years later, when asked to sign the final probate papers, to place the house in my name, they have changed their collective minds. I have told them in the current market the house might get $70,000.00. There is also a $50.000.00 mortgage. While I have told my siblings this, my brother seems to believe that he is intitled to a qurter of the Tax Assessed Value ($131,600.00), something around $25,000.00 not the $5,000.00 I have offered to pay him to sign. I want to keep the house and I can't just throw my tenant and his children out because my siblings are extorting money from me. If they do not accept my offer, what am I to do ????

Angry and Confused,

Jason


Asked on 9/27/10, 1:07 pm

2 Answers from Attorneys
Timothy Klisz Klisz Law Office, PLLC

Agree to pay for an appraisal and split based on the results. Otherwise, the judge will decide. Kliszlaw.com. Tim Klisz

Read more
Answered on 10/02/10, 5:31 pm
John Tatone John R. Tatone & Associates PLC

You should get an appraisal, show your sibilings the most recent mortgage statement to explain that they are only entitled to the difference. If that still does not work, petition the court to purchase the house for the appraised amount, pay off the mortgage and the balance will be divided amoung you and your siblings. Make sure to include your renter income as part of your loan application. You may need to have a written lease with the tenant for the financing company. Please contact me if you would like my assistance. 888-988-5297(LAWS)

Read more
Answered on 10/03/10, 3:26 pm


Related Questions & Answers

More Probate, Trusts, Wills & Estates questions and answers in Michigan