Olympia, WA asked in Probate for Oregon

Q: I want to ensure ill be getting a property once probate is over. Can i get this in a legal document

My parents estate is in probate and my sister is the executor. I want to buy one of the properties and my siblings say they want to be bought out. Is there any way i can have this in legal writing so i know for sure im getting it and they cant change their mind last second. Or is nothing able to be done until probate is over

Related Topics:
1 Lawyer Answer

Joanne Reisman

Answered
  • Probate Lawyer
  • Portland, OR
  • Licensed in Oregon

A: Ask them to sign a stipulated court order in the probate that gives you the right of first refusal to buy the property. You will want to include something in the order that sets the way to determine what the fair market value price will be that you have to pay. Remember you can only get a discount equal to your share of the inheritance after you pay your share of the probate costs. You can't expect to pay less then full market value unless your siblings don't mind and there is enough money to pay all the debts. You could point out that selling directly to you will avoid paying a realtor commission so you should get that much of a discount. There are still costs for issuing you title insurance and you will want to get a title report before you buy the property even if you think you know everything about it. Hiring an Attorney to help you is the best idea.

Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.

The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.

Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.