There are hundreds of videos on how to buy out a sibling, but there are none for the opposite side when you want to sell your share to the siblings who want to hold on to it. Where can I find this information?
Money that is inherited whether it's from the sale of a house, a car sale or cash in a bank account is not taxed unless it's over a certain amount. That amount is different in each state.
Hi Coco, yes, you can get a mortgage to buy the property, but you would also need it to include getting "cash out" so you can pay out your siblings their share of the house value. Best of luck.
If the house is paid for and the 2 that want to keep the house do not have income, how would you recommend getting cash out to buy out the other siblings?
Glad Traditional Lawyers work this out to avoid the Estate Plan mess.
Is it Lean or Lien? Just want to make sure I am googling correctly.
There are hundreds of videos on how to buy out a sibling, but there are none for the opposite side when you want to sell your share to the siblings who want to hold on to it. Where can I find this information?
Does the house get reassessed if you buy your other siblings out or can you keep prop13 tax on it since it’s going from parent to child?
House has a mortgage, two siblings and not sure of the buyout process
Does the sibling who was bought out of the inherited home - do they have to pay any type of tax? I thought not.
Money that is inherited whether it's from the sale of a house, a car sale or cash in a bank account is not taxed unless it's over a certain amount. That amount is different in each state.
What if the house is already paid for? do i take out a mortgage loan?
Hi Coco, yes, you can get a mortgage to buy the property, but you would also need it to include getting "cash out" so you can pay out your siblings their share of the house value. Best of luck.
If the house is paid for and the 2 that want to keep the house do not have income, how would you recommend getting cash out to buy out the other siblings?
@@yolistew289they have to qualify to get a loan.