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Barrister
Barrister, Attorney
Category: Estate Law
Satisfied Customers: 33794
Experience:  15 yrs estate law, real estate. Wills/Trusts/Probate
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If a spouse and children are the inheritance of farther

Customer Question

If a spouse and children are the inheritance of farther property in 2014 it have now been 2 years the spouse have lived in the home remodel the home paid 100% of date since death of spouse. Equity at the time of death was about $14K are the 2 children entitled to any more then their 3rd at the time of death?
Submitted: 3 months ago.
Category: Estate Law
Expert:  Barrister replied 3 months ago.

Hello and welcome! My name is ***** ***** I am a licensed attorney who will try my very best to help with your situation or get you to someone who can. There may be a slight delay in my responses as I research statutes or ordinances and type out an answer or reply,but rest assured, I am working on your question.

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Is the estate just now being settled so the the house is going to the heirs?

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Was there an appraisal done on the house at the time of death?

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Was there a will left by the decedent?

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thanks

Barrister

Customer: replied 3 months ago.
No and NO
Customer: replied 3 months ago.
I need to step out for one moment
Expert:  Barrister replied 3 months ago.

Ok, thank you for that information. Under TN intestacy laws, if there is no will then the spouse and children split the estate equally but the spouse's share can't be less than 1/3 of the value at the time of death.

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So if there was no appraisal done at that time, then you would need to get an appraiser to give you a retroactive appraisal and factor out any improvements done since that time in order to determine a value for the house which you would then use and subtract any debts to come up with an equity amount that would be divided by 3 if there is a spouse and 2 children.

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If the buyout can't be agreed on, then any of the heirs can ask the court to order a sale of the property at public auction and any of the heirs can bid on and purchase it if they are the high bidder.

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thanks

Barrister

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