Q: If you do a buy out for an inherited property how is the buy out determined ? On date of death for market value ?
My brothers portion is 12.5% is his portion determined on equity in the house we still owe 142k and is that based on market value on date of death ? Or today’s market
A: The buy out price is whatever the buyer and seller agree upon. If the co-owners cannot agree, then one of them can take the other to court to force a sale, in which case the court will decide and everyone loses because attorneys' fees and court costs come off the top.
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