Legal Question in Wills and Trusts in New Jersey
My mother recently passed away and my sister and I are the executors of the estate. Her will is clear in stating that everything is to split three ways between my sister, myself and my brother. We are going to put her house up for sale since my brother and my sister can't afford to buy me out. They are both living there and will continue to until the house is sold. They are paying the utilities and taxes themselves, however not paying rent. My question is: Should they be paying the estate rent? And if so, am I entitled to a third of it? Thank you.
2 Answers from Attorneys
I think you might consider alternatives. First, is the house paid off? If it is, maybe you can take some of the other assets of the estate as a partial offset to your 1/3 of the house? They may qualify for a mortgage loan since 2/3 of the value would be their equity.
Rather than worrying about a small amount of monthly rent, you should focus on solving the problem. This may not be what you are emotionally looking for, but may be the best long-term family solution.
I hope this helps!
Ron Cappuccio
www.SaveYourEstate.com
856-665-2121
The estate might be entitled to rent from your brother and sister, but you are probably talking very small dollars [as the estate would recieve the rent but be required to pay taxes, insurance, maintenance, etc. And then, since your brother and sister would get 2/3rds of the rent from the estate, what are you really talking about in terms of dollars to you? Probably not much, and likely not worth the trouble and ill will it will cause.
My advice is to sell the house ASAP and move on.
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