Tips for Getting Through a Divorce With the Right Lawyer

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Tips for Getting Through a Divorce With the Right Lawyer

While going through a divorce a few years ago, I felt like it was going to be the end of the world. The process was costly, and dealing with custody over the children was a nightmare. If it weren't for my lawyer, I am not so sure that I could have made it through to the end while maintaining my wits. My lawyer taught me a lot about the legal process of separating and divorcing, so I wanted to pass down the information, tips, and tricks through this blog to help others that may not be ready to hire a lawyer yet. From things you may need when first meeting with a lawyer, to all the of the paperwork that you should be keeping tabs on to protect yourself throughout a divorce, there is something here for everyone. Hopefully the information found here is helpful to you through your journey.

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How To Buy Out A Sibling's Share Of Inherited Real Estate Property

Siblings who inherit a piece of real estate from their parents have three options of how to deal with the property: 

  • Sell the property and split the profits

  • Manage it as a rental property

  • Buy out your siblings' shares

If you prefer the second and third options, you will have to adhere to the rules under probate law.

Help from your probate attorney and family cooperation are essential success factors. Find below the steps you should follow to buy out a sibling's share of real estate property.

Hire a Qualified Probate Attorney

Many things can go wrong in real estate transactions. While they're not deal-breakers, they can be severe enough that you will need probate law services. For example: 

  • The title must get cleared, which might need a quitclaim deed from the previous owner or lienholder.

  • The property is subject to certain covenants, conditions, or restrictions (CC&Rs).

  • The home has undisclosed defects that need resolution before the sale.

  • The buyer or seller can't meet their obligations under the contract.

A qualified attorney in a probate law office can help ensure your rights are protected. For example, probate lawyers will ensure proper negotiation and fairness in dispute settlements in case of disputes. Your probate attorney can also help you prepare for the closing day by reviewing all documents ahead of time.

Put Your Offer in Writing in a Legally-Binding Document

Your probate attorney will inform you of the importance of getting the agreement's details in writing. Even if you trust each other and want to keep things simple, you should ensure you're both on the same page regarding the terms of the sale. A written bill of sale can help prevent any disputes that may arise later on. In addition, the bill includes transaction details and warranties about the condition of the property.

Seek a Title Agency and Real Estate Agent

You'll need a title agency that provides settlement services. You also need to work with an experienced real estate agent to manage the closing process. As you seek a title agent and real estate agent, take the time to ask neighbors, friends, and co-workers for recommendations.

Once contracts get signed, real estate agents refer customers to title agencies or probate attorneys to handle title searches and closings. The title agent or attorney will research property titles to ensure that no one else has any ownership interest in the home.

Conclusion

Probate law is complex, and real estate property division is more complicated than other asset types. However, you can navigate with the right help. First, consider hiring a probate attorney to manage the negotiation process.


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