York, PA asked in Real Estate Law and Probate for Maryland

Q: If you are part of a will 6 beneficiaries a property is being bought by 2 of them do they also inherent from the sale

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1 Lawyer Answer
Cedulie Renee Laumann
Cedulie Renee Laumann
Answered
  • Probate Lawyer
  • Crownsville, MD
  • Licensed in Maryland

A: Property can be "bought out" by beneficiaries in one of two ways: the people who want to keep the house might pay the estate directly for the part they didn't inherit OR after the property is transferred to the heirs, they might work out a buy-out amongst themselves (in which case the money would go directly to the other owners who are deeding away their inherited interest) . Either way the estate expenses must get paid before the property gets disbursed.

An estate attorney can help guide through the process of disbursing an estate where one or more beneficiary is buying out.

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