Legal Question in Wills and Trusts in North Carolina
Hello. My mother and her three siblings have equal ownership of their deceased parent's home. It has been used as a family vacation home and each would take turns using it in the summer. However, one sibling has convinced the eldest (the executor) to rent out the home to vacationers. My mother would rather see the home sold and get her share out of it than to see it rented out to strangers. She told the sibling that she wanted them to buy out her share so she can invest the money in hopes of getting her own vacation property. He said he would have to take out a mortgage to do that because he doesn't have the money to do that. How can she get her share and can she force a sale on the home? The siblings have said they want to spend money updating the home for renters' enjoyment, which she is furious about. She feels it is her money too. This is a home in North Carolina, and she lives in Texas. What are her options? Thank you!
2 Answers from Attorneys
Yes she can force a sale with a partition action. She would need to seek an attorney in the county where the property is located. Perhaps she can write a letter to the other siblings indicating that she is not interested in renting it out and will seek to bring a partition action unless they buy her out. That would make the most sense because it will be costly to bring the partition action. They can take a mortgage out if they want to buy her out.
The home can be partitioned, as noted. The siblings who want to rent out the home will have to buy out the share of your mother.
Your mother can put it to her siblings like this - either they can do it the easy way or the hard way. The easy way is for the home to be appraised and for your mother to convey her share of the home to the others and get cash. The siblings are going to have to get a mortgage if they cannot come up with the funds. They just need to borrow enough to buy your mother and a little extra for the repairs. Your mother and the siblings will need a real estate attorney to prepare the deed and to pay for an appraisal. They can agree to split the costs.
If they refuse, then do the partition. Everybody can pay their own lawyers and appraisers. Your mother's siblings will still end up buying out your mother's share.
Either way, your mother will need to speak to a real estate litigation attorney in the county where the land is located in NC.
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