Buying out siblings.

Goldfish27

Hi, my partners father died in February leaving  his estate to be shared between his children.
My partner and I want to buy the house by buying out his siblings.
Everybody is in favour of us doing this, I was just wondering how we go about it legally.
Thankyou.

Ditzy_Mitzy

This sort of thing is very common.  The short answer, without being flippant, is to speak to the solicitor dealing with the deceased estate.  He or she can then guide you all through the process of selling and buying the relevant shares of the house.

Goldfish27

Thankyou for your reply, we will give the solicitor a call.

getmore4less

Often just buy it off the estate like a normal purchase can avoid complications especially if you need a mortgage.

Keeps it as close to a normal transaction as possible.

dimbo61

You will of course save money by not using an estate agents.
Get a Ric's survey and valuation done so that all the siblings are happy with the valuation put on the property.
Any cash, shares or bonds in the deceased estate will also be taken into account after the funeral and legal costs are paid.
Sorry for your loss

Jeffrey_Shaw

Goldfish27 said:

Hi, my partners father died in February leaving  his estate to be shared between his children.
My partner and I want to buy the house by buying out his siblings.
Everybody is in favour of us doing this, I was just wondering how we go about it legally.
Thankyou.

Much depends on who will be winding-up the Deceased's Estate, as Personal Representative (executor or administrator).

Your first approach should be to the PR who is alone the only person capable of disposing.