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Unknown or unfounded Heirs
Need a little help. My mother-in-law is wanting to sell a property that she is 30% heir in.
Another heir who is entitled to 40% of the property ownership is also in agreement to sell.
There was another known heir the passed with no children to pass her ownership to and a few others that can’t be located.
Any advice for getting the property sold? A few local small town lawyers have been very unhelpful. Was thinking maybe selling and setting the remaining 30% in a trust for remaining heirs in case they popped up down the road but unsure.
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First, I'm not a lawyer and under no circumstances offer legal advice. Second, it will take a lawyer that specializes in Real Estate law, which we have a few good ones in Nicholasville.
Honestly the few others that can't be located will make this a difficult one. Which will require a lawsuit and then the court to make the decision.
But you'll want to take care of the deceased. In Kentucky, if heirs own property together as tenants in common, the land will remain in the name of the deceased person unless the heirs change the title or deed to reflect their ownership. To do this, they can go to the appropriate administrative agency or court in their jurisdiction.
SO, get a good Real Estate lawyer, not all lawyers do real estate. Here are 3 top rated on google.
Mary Estes Haggin (859) 231-8780
Richard David Lom (859) 963-1939
Mark E. Yonts (859) 621-3910
Good Luck!