Can I force my brother to selling inherited house?
It is a prevalent scenario inheriting a house and selling it.Siblings inherit real estate and want different things from the same, what should you do in such situations? The siblings or co-owners of a property may have other ideas about wealth and property. Many times, families make joint decisions about any inherited property. However, sometimes the siblings may disagree on the way a property is disposed of. Brothers and sisters may have their own families and jobs in different parts of the country and may not live together in the same house.
Why would you want to sell your part of the property?
Siblings force the sale of an inherited property at times due to financial reasons. But there are many emotional questions attached too. They may need money to pay the debts and liabilities and have different memories attached to the house. The sale of inherited property is a complicated matter as it is, and if a sibling wants to force a sale of the property or part thereof, you need expert guidance.
When a sibling inherits, they may come to a mutual agreement and sell it voluntarily. If you need money immediately and cannot reach an agreement to sell, then you can even rent the property out so that you both can get some money every month. This can help to pay the maintenance costs. But if this too does not happen, then the property is sold through a partition action.
Co-owners have the right to partition.
The will may specify the part of each inheritor. In the absence of that, all the inheritors- siblings, in this case, will be joint tenants or tenants in common. This means each sibling has clear ownership of a part of the property, and he or she can pass it to others or sell the property the way they want.
If your sibling does not want to sell, then you can apply to the court for partition and get the order to sell the house. Siblings may share the property as a primary residence, and then they may decide to sell a part. The property sale will be complicated if the other sibling lives in the other part of the same house and has children. The court may need a convincing argument to allow selling an inherited house in such a case.
Money is important
Although we all know that inheritance is an emotional aspect, and the sale price is also essential, one must wait for a higher price. One sibling can sell his portion when they have
inherited a property as soon as possible to save the capital gains tax. The fair market value is calculated when the family members inherit a house. Just to remind you, there is no inheritance tax in Canada.
Selling an inherited house needs probate from the court. All the inheritors have to be on the same page for an easy process. But at times, the inheritors or siblings may have different ideas. Some may want to live there as a primary residence, while others may want to sell their portion. It is possible to sell a part of the house with the court’s permission and help from real estate agents.
The role of expert estate agents is undeniable in selling part of a property when the children inherit a home.
We specialize in handling such sensitive situations of forced sales or part sales of property inherited by a family. We take care of each part of the process, from valuation to the sale’s legal completion. We can buy the property portion from you with no hassle as soon as possible, saving you maintenance costs. You will get the best possible deal for a house that is partly occupied by your sibling—all this with the least possible discomfort to you or the other owners.