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Christopher B, Esq.
Christopher B, Esq., Lawyer
Category: Real Estate Law
Satisfied Customers: 2983
Experience:  associate attorney
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I have a question about the deed to my house and property. I

Customer Question

I have a question about the deed to my house and property. I have a copy of the deed in my e-mail that I can forward to you. When my husband's divorce from his first wife was done she would only sign if he agreed to allow their children 1/6th of the house and property. We are now going to sell the house and property and need to know exactly what they are owed. His children are now adults and there has been a recent rift in the family. We'd like to have this information as soon as possible because there may be a way in the very near future that would allow us to have them sign the entire property over to us.
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Christopher B, Esq. replied 1 year ago.

My name is***** and I will be helping you with your question today. This is for informational purposes only and does not establish an attorney client relationship.

If these children own 1/6 of the house, then they would have to agree to any sale in the first place. The title company would most likely point this out soon enough. If the house is a commercial property then basis will have to be taken into account so the children would be due 1/6 of the profit and if the house is your homestead then you will likely have no taxable gain on the property and the entire sale minus any mortgage would be 1/6 to the children. You could buy them out before any prior sale for whatever you feel like is fair market value and then any sale would go 100% to you (this would be best if they would agree as they would have to sign off on any future sale otherwise).

Please let me know if you have any further questions and please positively rate my answer if satisfied (there should be smiley faces or numbers from 1-5 next to my answer, a good or excellent rating would be fantastic) as that is the only way I will be compensated by the site for my work. This will not cost you anything extra and this extra step would be appreciated.

Expert:  Christopher B, Esq. replied 1 year ago.

Just following up, do you have any further questions?