Legal Question in Bankruptcy in Wisconsin
real estate partners
My wife inherited 1/4 of an estate. Her brother has 1/8 of the estate and has gone bankrupt. The trustee says they must buy the brothers part or the whole estate will be sold to recover his 1/8 value. There is a lien on my wifes part. Can the trustee force this sale on the other owners and what priority will the lien have? Thank you.
1 Answer from Attorneys
Re: real estate partners
Greetings,
Esate matters are complex. If you don't understand the reasons for things, you should ask for more explanation from the personal representative, the attorney, or an attorney in your area. I can say, as a general matter, that the executor has to find a way to get everyone the right amount for their share and paying off all estate debts. Sometimes estate property has to be sold to get the cash to do that, unless heirs put in some money and buy the other out. Again, I do not know all the facts of the estate, so I cannot say for sure if there are any other options in your situation.
Mark J. Mahoney
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