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    Barbara A Dumai's Avatar
    Barbara A Dumai Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Jan 21, 2009, 11:12 PM
    Selling a house after parents die-10 kids only 3 want to sell
    My parents are both dead-mother died last-5 years ago.The house was not in will but in all 10 children's name.3 want to sell the others do not.One sister living in house.What can we do? The 3 of us need the money.
    stevetcg's Avatar
    stevetcg Posts: 3,693, Reputation: 353
    Ultra Member
    		  
    #2

    Jan 22, 2009, 05:28 AM

    Honestly, not much. The one sister can be charged rent, but beyond that, you *seem* to all have an equal share in the home.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #3

    Jan 22, 2009, 07:52 AM

    Ask the other 7 to buy you out. Get an appraisal of the home, divide it by 10, then multiple by 3 then divide by 7. The 7 remaining siblings kick in that amount which is then shared by the 3. When they pay over the amount a new deed is prepared leaving only the 7 remaining.

    So for example, if the house is worth $100K. Each of the 7 contributes about $4,300 and then the 3 of you get about $10K apiece.
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