Posted on: 10th Nov, 2013 07:25 pm
Our mother has signed a warranty deed with lien title on her home with our oldest sibling. This sibling lives with our Mother presently. They are trying to sell the house but we do not understand exactly how they each stand in the right to sell the home and more importantly how any profits of the sale would be disbursed? Our mother seems to think they would each get 50% of the profits? Is this correct? Our mother is getting older and we just want to make sure she knows what she's doing before she sells the house!
Hi Guest,
At present, the warranty deed lists your mother as well as your older sibling as the owner of the property. In such a situation, if the property is sold off, both of them will be able to get equal share from the sale proceeds.
At present, the warranty deed lists your mother as well as your older sibling as the owner of the property. In such a situation, if the property is sold off, both of them will be able to get equal share from the sale proceeds.
Hi Guest!
Welcome to the forums!
I agree with what Adonis has said. As both of them are the owner of the property, so both of them will get equal share from the sale proceeds.
Feel free to ask if you've further queries.
Sussane
Welcome to the forums!
I agree with what Adonis has said. As both of them are the owner of the property, so both of them will get equal share from the sale proceeds.
Feel free to ask if you've further queries.
Sussane