Shakopee, MN asked in Bankruptcy for Iowa

Q: My sister is executor of the home that was left to me her and my brother. The lawyer owns my sisters 3rd of it now.

And the lawyer states we need to sale home now cause he owns a 3rd of it, because my sister filed bankrupctu

How's that work and what's my rights

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2 Lawyer Answers
Timothy Denison
Timothy Denison
Answered
  • Bankruptcy Lawyer
  • Louisville, KY

A: Depending how he obtained yoursusters share, you and your brother will likely have to buy him out. You may need to have it appraised to determine the actual value.

Bruce Alexander Minnick agrees with this answer

Bruce Alexander Minnick
Bruce Alexander Minnick
Answered

A: CAVEAT: Do not go off half-cocked just because you think a lawyer "owns your sister's 3d of the house." Why? Because regardless of who owns your sister's 3d, you and your brother will STILL receive the same amounts (i.e., one third each) that you are supposed to receive. If you and your brother do not trust the lawyer then get an appraisal and buy him out.

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