QUESTION
Can i be forced to sell the house i'm currently living in if there is a will splitting the house 50/50?
Asked on Nov 29th, 2013 on Wills and Probate - New York
More details to this question:
My grandmother owned the 3 family house I currently live in now. My parents occupy the the other apartment and the third has been vacant since my Grandmothers passing. My grandmother left a will in the 70s splitting the house 50/50 with my mother who lives in the house currently, and my Aunt who lives in Atlanta GA. My Aunt wants to sell the house and take her half of the money, but we don't want to sell. One lawyer told us as long as the house is our current residency we don't have to sell, and another lawyer told us we would be forced to sell and have 90 days to do so.
1 ANSWER
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The aunt could force a sale in court, as simply, the house is part of an estate. There are strategies to avoid a sale, but the longer one waits to find a solution, the greater the likelihood that down the road, a sale will occur, to satisfy the aunt's interest in the property.
Gerry Wendrovsky, Esq.- Upper West Side Estate/Real Estate Lawyer
www.upperwestsidelawyer.com
Answered on Dec 16th, 2013 at 3:23 PM