Q: My sister and I have inherited a home which she took upon herself to upgrade and she won't allow me to help her
She is also a broker who plans on selling the place which I do agree to but is she legally have to be paid for doing so...she wants to take a 4 percent commission which I think is crazy for a house that she and inherited 50/50
A: It all depends on whether the person who passed away had a Trust, a Will, or did no estate planning. If there is a Trust or Will, whoever is named as the trustee or executor in the document is legally-bound to follow the terms set out in the document. If someone is doing something that is not authorized in the document or by law, then they are breaching their duty to act impartially in the best interests of all beneficiaries. Each Trust and Will contains different terms, so there's no way a lawyer could tell you if your sister's actions are improper. If there is no Trust or Will, the house will need to go through a probate court process before it can be sold. Contact an attorney and give the attorney copies of all estate planning documents, so the lawyer can advise you based on your specific situation. Best wishes!
A:
As co-owners of the inherited home, you and your sister have equal rights to the property, including the decision to sell it. However, if your sister is a licensed real estate broker and plans on listing and selling the property, she may be entitled to a commission for her services.
The commission rate for a real estate broker can vary depending on the location and the specific agreement between the broker and the seller. In some cases, a 4 percent commission may be considered reasonable, while in other cases it may be higher or lower.
It's important to note that your sister should disclose her relationship to the property as a co-owner and her potential commission to any potential buyers. This is required by law to avoid any conflicts of interest or legal issues.
If you feel that your sister's commission rate is unreasonable, you may want to discuss it with her and try to come to a mutually agreeable solution. You could also consider hiring a separate real estate agent to sell the property, although this may result in additional costs.
Ultimately, it's important to work together with your sister to ensure that the sale of the property is handled fairly and legally.
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