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My father has recently passed away and the house is too much for my mother to keep up. She has decided to sell the house and has run into a brickwall. The house is in Ohio and both of their names are on the deed there are four children all over the age of 21. My mom is learning that without a will my fathers portion of the house will be divided between the four children and herself. Is this true? The deed has just the two names why are the children involved?
It depends how the house was titled. Often a husband and wife who joointly own a house will have the house titled as "joint tenants," or "joint tenants with right of survivorship." In this case when one person dies the other inherits full ownership. But sometimes property is titled with the co-owners as "tenants in common," which means each owns half, and when one person dies that person's half is considered part of his/her estate. If this is how your parents' property was titled then his half gets split among his heirs per the laws of Ohio for someone who dies intestate. So I suggest you ask how the ownership is worded on the deed and see if this is indeed the issue. If this is the problem then you have some decisions to make - the children could all become co-tenants and simply agree to let your mother continure to live their in exchange for her paying property taxes and performing required maintenace. Or you could each gift your portion to her (though there may be some estate planning consequences if you do this). Or perhaps she could buy each of you out.Quote:
Originally Posted by KW2WWB
At any rate, assuming it's a tenancy in common, she can sell the house. But while the sale is pending, she simply needs to retain an attorney to do the probate paperwork. And, if the children are not willing to forego their shares, they would each receive a check at closing.
If, on the other hand, it was owned as a JTWROS, a certified copy of the death certificate should be sufficient to close the sale.
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