Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Tax, SDIRAs & Cost Segregation
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 6 years ago on . Most recent reply

User Stats

79
Posts
4
Votes
Joe P.
  • Rental Property Investor
  • Mechanicsburg, PA
4
Votes |
79
Posts

Complicated inheritance issue

Joe P.
  • Rental Property Investor
  • Mechanicsburg, PA
Posted

I have an opportunity to purchase a vacant land property that was owned by 3 brothers as joint tenants (no right of survivorship)  I'll call them A, B, and C.  A and B died and thier 1/3 interest in the property is left to their wives who we will call X and Y.  C is still alive.  I spoke with X on the phone and she doesn't know how they can sell the property.  I'm not sure how I can buy it from them either.  There hasn't been any sort of probate proceedings.  What would be the easiest way to purchase this property from them?  What needs to be done?  The property is in Pennsylvania.  

Most Popular Reply

User Stats

3,846
Posts
3,153
Votes
Ashish Acharya
#2 Tax, SDIRAs & Cost Segregation Contributor
  • CPA, CFP®, PFS
  • Florida
3,153
Votes |
3,846
Posts
Ashish Acharya
#2 Tax, SDIRAs & Cost Segregation Contributor
  • CPA, CFP®, PFS
  • Florida
Replied

@Joe P.

You need to consult with an attorney. But if they are not going to sell, your consultation will be a loss. 

Generally what happens is:  the Joint tenant that you are referring probably is a Tenancy in Common interest as there is no Survivorship option. 

When A and B died, both of their Tenancy in Common interests should have probated to X and Y via their Will or State law (Unless restricted by contract or agreement between A,B, and C). But you say this has not been done. Again Confirm this with the wife. 

The TIC interest now with X, Y, C. All of them still hold the interest as TIC. Each of them has the right to sell or partition their portion of interest without the consent of the other two.

IF all of them are in the same boat and wants to sell,  this should not be that hard.

If they are motivated sellers, consult with an attorney.

Let's see if attorney colleagues have to say something different.  

business profile image
Investor Friendly CPA®
5.0 stars
215 Reviews

Loading replies...