Expenses of joint inherited property
My husband owned 1/4 interest in his grandfather's estate which was comprised of a farm, a house on another piece of property which was his residence, and a few other rental properties. My husband's mother was an only child, so the grandfather left everything to his daughter and her three children divided equally in fourths. My husband passed away in August 2005. His will left everything to me. My mother-in-law wants to buy me out. She also wants to deduct 1/4 expenses on the estate. The grandfather died in 1969. His wife who was mentally incompacitated was to be taken care until her death with the estate income. This was done. She died in 1985. I believe that I came into ownership when my husband died. From the time that the grandfather died (1969) my mother-in-law has handled all income and expenses. When a rental property was sold she took out any expense and divided the proceeds in fourths. If we cannot agree on a price and she sues me for past expenses, haw far back can she go? Ten years? Only back to 2005? She never asked for any expenses to be covered by any of us when my husband was living. The only property that remains is 156 acre farmland and a house on a 3/4 acre lot.
