Legal Question in Wills and Trusts in Virginia
real estate in virginia
when my grandmother passed;her house was divided between all brothers and sisters. all the brothers and sisters had signed away their portion to my dad-except 1 brother in law.My dad just passed away-I have no idea where the paper work is, but last brother in law is ready to sign. my dad took care of taxes and mowing since gran passed. The lot is very small-a house cant even be built on it-it probably isn't worth 3,000. should i just let it go back to the city on back taxes-my dad was talking about donating it to the city for a small park-he just didnt specify in the will
1 Answer from Attorneys
Re: real estate in virginia
Rather than "guesstimating" the value of the property, find out what it's likely to sell for in that particular market before making your decision.
(A real estate agent in the area could do a comparative market analysis
of the property or even the local government tax assessor should be able to provide an assessed value for the property which may give you some idea of what it may be worth.)
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