Legal Question in Wills and Trusts in New Jersey
my mom passed away in july of 2009. and my brother(named excecutor) left the home in mom's name and the will leaves half of everything to my brother and I her only children dad passed years ago in NJ. Now my brother and I agreed that he is going to buy me out my half but he wants to charge me 3% of my half in case he sells the home in the future. Also he says he will pay me half of the banks appraised amount is that fair to me? Also he has moms entire possession's In his home, how do I make him pay me half and how do I not pay him 3% if he sell the home in the future. do I have any rights, he has been renting the home out and I have not seen a penny from the rent, I have seen no records. I have been completely in the dark. he holds all the cards. what recourse do I have?
1 Answer from Attorneys
As executor, he should have probated your mother's will and been administering the estate. That means gathering the debts and assets, paying the debts, including inheritance and estate taxes, if any, last income taxes, and then distributing the assets. As part of the process, he should have provided you with an accounting of what he was doing.
If he wants to buy you out, he should be paying you now, and if he decides to sell later, then any Realtor's commission, which the % sounds like, is all on him.
You have the right to seek an accounting from him. Find an estates lawyer in the county where your mother resided at the time of her death and find out what your options are. Do not do anything or sign anything until you have done this.
THIS RESPONSE IS NOT LEGAL ADVICE, SINCE I DO NOT HAVE ALL OF THE INFORMATION THAT WOULD BE REQUIRED, AND I DO NOT HAVE A REPRESENTATION AGREEMENT WITH YOU.
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