Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. 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.
General Landlording & Rental Properties
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 almost 4 years ago, 03/25/2021

User Stats

118
Posts
40
Votes
Alex Verdugo
  • Tucson, AZ
40
Votes |
118
Posts

Two sisters, one house

Alex Verdugo
  • Tucson, AZ
Posted

A neighbor of my brother died two years ago and the widow recently past away.  The two daughters are now trying to figure out what to do with the house, which is paid off.  One lives relatively close and has been dealing with getting everything cleaned out, sold, etc.  The other is out of state.  I talked with the sister thats dealing with the clean up and she would like to keep the house.  She has her own home in a nearby town where her granddaughter, who she is taking care of, goes to high school.  She wants to stay where she is and not move into the vacant property.  I dont know that she's very open to the idea of renters.

The other sister just wants a check for her half of the house.

I was thinking that the first sister could get either a HELOC or cash out refinance the house, and pay the second sister for her half of the house.

Another idea was to rent it out for the next couple years and move in once the granddaughter graduates.

What other possibilities are there so one sister can keep the house and the other gets compensated somehow?