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4 people, Cheri, Mary, Nancy and Donna own a house together,

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4 people, Cheri, Mary...

4 people, Cheri, Mary, Nancy and Donna own a house together, 2 of those people, Cheri and Mary also are the bank with each owed $116,000.00. The house has a value of $270,000.oo. Now Cheri is deceased and the other 3 partners want to buy her share out. What is the amount owed to her estate?

Submitted: 11 months ago.Category: Legal
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9/7/2017
Lawyer: ScottyMacEsq, Attorney replied 11 months ago
ScottyMacEsq
ScottyMacEsq, Attorney
Category: Legal
Satisfied Customers: 18,167
Experience: Licensed Texas General Practice Attorney
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Thank you for using JustAnswer.

When you say "Cheri and Mary also are the bank with each owed $116,000.00" do you mean that they each owe the bank $116,000 on a mortgage to the house (with the total being $232,000 as a mortgage)?

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Lawyer: ScottyMacEsq, Attorney replied 11 months ago

Did you see my follow up question to your issue?

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Lawyer: ScottyMacEsq, Attorney replied 11 months ago

My apologies, but I must assist the other customers that are waiting. Once you respond to my follow up question, I will respond as soon as I can. Please note that I may be assisting other customers or otherwise out of the office (depending when you respond). Thank you.

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Lawyer: ScottyMacEsq, Attorney replied 11 months ago

I see you have not responded in some time. Did you wish to continue with this question? Please let me know, because if not, I can request to have it closed.

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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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