Q: What are the steps to take to purchase a house inherited by my aunts and uncles? How much for a praise, a lawyer & fees
The house is destroyed the owners were my grandparents I grew up in the house. My uncles and aunt are the inheritance of the house, family members would like to give me their part as gift others want money. What can I do to get the paperwork going and take ownership of this destroyed house. Who do I have to contact, how, how much. Can I do the paperwork from NYC or would it be cheaper from P.R. it self.
A:
Hello and thank you for using JUSTIA. The legal process requires that first the property must go into the names of the inheritors. For this you will need to do a Declaration of Inheritors for your Grandfather and another one for your Grándmother. This created two Estates and the registraron of the property under The inheritor's names. The cost is $ 1,500.00 each one.
Once that legal process is done you will need to appraise the value of the property. An appraisal costs $ 500.00.
Once appraised you will need to do a public deed with each inheritor to purchase thier share of the Estate's and get the property in your name. The cost of each public deed is one percent of the value of the inheritor's percentage in the Estates (property) stated in said deed.
You will need to file a Power of Attorney to allow someone to sign each deed in your favor for the purchase of the inheritor's percentage of the Estate. The cost of certifying a Power of Attorney is $ 350.00.
In the event that one of the inheritors cannot sign the deed personally in Puerto Rico then they need to create a Power of Attorney for said purpose.
In the event that an original inheritor has passed away an Estate must be created for them also. Each creation of an Estate has a legal cost of $ 1,500.00.
The entire process must be done in Puerto Rico since the property is in Puerto Rico.
If you need additional information feel free to contact me directly.
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