Legal Question in Real Estate Law in Texas

house in estate

My three siblings and I inherited 1/4 of the family house each. We have come to an agreement on the amount I need to pay them to buy them out. What sort of paperwork will I need?


Asked on 3/21/07, 6:51 pm

2 Answers from Attorneys

Johm Smith tom's

Re: house in estate

First you need to think about the value of the house and then about the cost of having an attorney make sure you don't mess this deal up. Just today I saw at least 5 questions that arose because family members broke their agreements and kept property that was supposed to go to another family member. Just preserving your good family relationships is worth having an outside party (attorney) make sure what y'all agree to right now is what happens.

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Answered on 3/21/07, 10:23 pm

Re: house in estate

The type of paperwork you need depends on the estate. I would need more information before I can discuss this with you. Did the estate have liabilities? other assets? Was there a will?

In most cases, you will need a familty settlement agreement (to determine who gets what), documents to clear title from the estate to the family members (this document depends on the estate and any pending probate actions) and finally documents to transfer the ownership interests from the selling family members to the purchasing family members (this document will depend on whether you are buying this for cash, note or ?)

Please let me know if I can be of furhter help.

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Answered on 3/21/07, 11:53 pm


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