Posted on: 15th Mar, 2010 02:35 pm
my divorced parents died in 2005 and 2007, respectively. they owned adjacent properties, two houses and farm land, the interests in which were left equally to us four children. none of us wants the property, and it hasn't sold yet due to the slow economy. we all have some need for the money, but two of us do in particular.
can we two sell our interests in the property using a quit claim deed (or any other way)? are there companies that would buy it this way? we don't know when the property itself will sell.
can we two sell our interests in the property using a quit claim deed (or any other way)? are there companies that would buy it this way? we don't know when the property itself will sell.
Hi jdmatteo!
Welcome to forums!
The property has to be sold off as a whole. You cannot sell off a portion of the property. However, the two of you who are in need of money can ask your other two siblings to buy you out. In this way, you can sell off your share of the property to the other two siblings and get money in return.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
The property has to be sold off as a whole. You cannot sell off a portion of the property. However, the two of you who are in need of money can ask your other two siblings to buy you out. In this way, you can sell off your share of the property to the other two siblings and get money in return.
Feel free to ask if you've further queries.
Sussane
Hi, can an heir sell his share to an inherited property to another individual out of the heirs?
Thank you for your help. God bless
Thank you for your help. God bless
Hi consuelo,
Yes, as far as I know, that is possible. However, he may have to inform other heirs about this sale.
Thanks
Yes, as far as I know, that is possible. However, he may have to inform other heirs about this sale.
Thanks