Legal Question in Wills and Trusts in New Jersey
inheritance
if i inherit a house with my sibling who currently lives in it do i have to pay the taxes or other expenses
Asked on 6/03/08, 8:55 pm
1 Answer from Attorneys
Jonathan Chester
The Law Office of Jonathan S. Chester, Esq., LLC
Re: inheritance
I would like to see what the Will says as to the ownership of the house.
However, if you own it as tenants-in-common, you are both entitled to occupy the house and share the costs and benefits equally. If your sibling is excluding you from the house, he or she should be responsible for all the costs.
You may want to look into an amicable split, where your sibling buys out your 1/2 interest in the house at market value. Otherwise, you may need to go to court and file a partition action.
Answered on 6/04/08, 8:38 am