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Selling share of inherited property
Mac7Dee
Posts: 5 Forumite
My wife and her brother have inherited a property from their mother.
He wishes to buy her out of her share, all seems very simple, has anyone got any pointers as to what is required eg solicitor.
There are no IHT problems as the total estate is below 325k
He wishes to buy her out of her share, all seems very simple, has anyone got any pointers as to what is required eg solicitor.
There are no IHT problems as the total estate is below 325k
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Comments
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Are they also the executors of the estate?0
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Yes they are, plus the wife has probate (not her brother for another reason)0
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Some might suggest that they both need their own solicitor. That seems a bit much to me if they have honestly agreed on everything - but brother's solicitor may insist.
Have they got market values to know what is a sensible price? Some suggest 3 estate agent valuing and taking a mid point.I’m a Forum Ambassador and I support the Forum Team on Debt Free Wannabe, Old Style Money Saving and Pensions boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
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Is the property specifically left to siblings or just part of the estate?0
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