Q: My mother passed and there is no will, my sisters and I agree to sell the home and split the money, how do we do that?
My mom had nothing in writing, but the 3 kids are in agreement to sell the home and split the money, how do we do this? I actually want to buy my sisters out. I am currently living in the home, I moved in to pay the bills while mom was to be in a nursing home for an indefinite amount of time, she died two weeks after I moved in (June 14 2020). I have been paying out of pocket for all necessary repairs and upkeep to make the house attractive and sellable. How do I go about buying my sisters out?
A: If a decedent passes without a will and the estate has a value exceeding $100,000, then you need to open an estate and someone must be appointed as the Administrator of the intestate estate. There is a slew of information the court will want at the beginning stages in order to determine who should act on behalf of the estate and who are the heirs. Once you have an administrator and you have identified heirs, then you can begin the process of asking permission to sell the property. If you want to buy the property, then you should reach an agreement with all interested parties and support the price with an appraisal or court order allowing you to buy out your siblings. If you don't properly document the arrangement and obtain court approval, you remain open to a later claim that the amount you paid was not fair or adequate. If the house and other estate property are worth less than $100,000, then you may proceed with a small estate affidavit. Be sure to read 755 ILCS 5/2-1 et seq. (meaning all of the material that follows). Sincerely, Bryan.
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