Legal Question in Real Estate Law in Ohio

Re: Real Estate Inheritance-rights relinquishment

If probate is taking place in Ohio then Ohio law controls. Consult with attorney handling the matter in Ohio. Act without delay. You may be risking losing all of your interest which might be split equally among the remaining 4 heirs. I have no idea whether the way you want to slice it is permissable under Ohio law. Good luck.

Re: Real Estate Inheritance-rights relinquishment

Contact the attorney handling probate of estate in Ohio.

Re: Real Estate Inheritance-rights relinquishment

Probate will probably take place in Ohio. Therefore, you'll probably have to file a Disclaimer with the Ohio court in accordance with their laws.

Re: Real Estate Inheritance-rights relinquishment

If you disclaim your interest, then your portion will be divided among your other 4 siblings, not accomplishing what you want. You could do a gift of your interest in the real estate but if your portion is greater than $11,000 you will have to file a Federal Form 709, Gift Tax return. No tax will be due, but it will reduce the $1.5 million that you can pass during your life or on your death. Technically, the property vested at death if it were a Transfer On Death deed from your parent to the kids. If the Estate owns the property (no TOD deed), then you can do the gift within the Estate perhaps (i.e. something in writing to instruct the Executor to give your portion to your sister.) If all the siblings own it (by TOD deed) then you will have to sign a Quit-Claim deed to your sister that they can record immediately before the closing. If you are trying to avoid creditors, this doesn't stop their recorded lien, if any, from attaching to your interest necessarily. It is important for you to call the probate attorney and discuss the matter with them to see what options there are.