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LegalGems, Attorney
Category: Estate Law
Satisfied Customers: 10484
Experience:  Private Practice; Elder Law Attorney; Estate Planning; Attorney Mentor
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My matter is concerning my deceased dad's property. My dad

Customer Question

My matter is concerning my deceased dad's property. My dad was committed to a nursing home in 2006 and he had an equity loan balance on his home. At this time I was a renter and decided to move into the home to pay the loan. I have four siblings and they are not interested in the property. They are willing to sign a disclaimer form. I have taken care of this property for ten years and have paid the property taxes. We didn't know if there was a will or not, but recently discovered one. My dad wanted the property to be sold after five years of his death and divide the money equally between us. We don't want to sell, want to keep in the family. Can I buy my siblings out?
Submitted: 1 year ago.
Category: Estate Law
Expert:  LegalGems replied 1 year ago.

Yes, it is possible to retain possession of the property- generally if a parent states that they would like the home sold and the proceeds divided, that is to ensure there is adequate money to be distributed to all the children equally. However, if all the heirs are in agreement, the court will not force a sale of the property. Furthermore, any heir can disclaim their inheritance, so that it then passes to the next in line (it is as if the party disclaiming the inheritance predeceased them for all intents and purposes).

Here is the statute governing disclaimers:

This discusses probate, its processes and the types of probate:

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Information provided is for educational purposes only. Consultation with a personal attorney is always recommended so your particular facts may be considered. Thank you and take care.

Expert:  LegalGems replied 1 year ago.

Hopefully the above information was useful and one is able to retain ownership of the property.
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