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Updated over 6 years ago,

User Stats

40
Posts
9
Votes
Kathy Brasby
  • Investor
  • Fort Morgan, CO
9
Votes |
40
Posts

Estate division with real estate and cash

Kathy Brasby
  • Investor
  • Fort Morgan, CO
Posted

I could use ideas. Here's the scenario: I and three siblings have inherited 10 rental properties plus some cash. One brother wants no real estate, only cash. The other three would like to keep as many rental properties as possible (they are doing very well). The estate does not have enough cash to pay off the non-real estate sibling so we will probably have to sell 1-2 properties. The brother wants the estate to sell those properties before the final division of resources is done so that all four share in the closing costs. The other three would like to let him inherit the property and sell the houses himself. There is the possibility that he could sell for more than what the appraisal is, although the estate will be divided based on the appraisal. He isn't interested in that possibility.

Is the brother correct in wanting all four to share in the closing costs? We may do it to keep the peace but does it sound fair? Thank you for your opinions.

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