In some cases, the executor can sell the house without getting the sign-off from all the heirs. For example, in California, if the executor can sell the property for at least 90 percent of its appraised value, they may have the authority to move forward with the sale.
However, under California law, if the siblings can't agree and any of the siblings want to sell the house they inherited, they can use a legal proceeding known as a “partition action” to force the sale.
Partition lawsuit: If the siblings cannot agree on a buyout, the two who want to sell the property can file a partition lawsuit. This would allow the court to order the sale of the property and distribute the proceeds among the siblings based on their ownership share.
The first option, is you may ask the court to buy out your sister pursuant to the terms of the Will. The second option is you may ask the court to force your sister to buy you out. The third option if neither will buy out the other is for court permission to sell the house to a third party and split the proceeds.
The straightforward answer is no, and there is no specific time limit on selling an inherited property. However, certain factors will influence the timeline of the sale process. Understanding these nuances is key to ensuring a smooth and compliant sale.
If one sibling is living in an inherited property and refuses to sell, a partition action can potentially be brought by the other siblings or co-owners of the property in order to force the sale of the property. In general, no one can be forced to own property they don't want, but they can be forced to sell.
In California, a co-owner of an inherited property can force a sale of that property by taking legal action against siblings with a lawsuit called a partition action, a legal proceeding that can result in the court ordering the sale of the property and the division of the profits among siblings.
The short answer is yes, but for siblings to sue one another for their inheritances, there must be a valid reason. In other words, there should be a legitimate estate dispute between siblings.
Option #2: File a Probate Code §850 Petition
If the sibling refuses to vacate a property that is titled in a trust, the trustee may consider filing an “850 petition” (also known as a “Heggstad petition”) in the California probate court.
Start planning a loved one's estate early to allow more options for managing assets, considering strategies like life insurance, and resolving disagreements. If your family can't settle things, consider hiring a professional mediator to help resolve the dispute without going to court.
When a house is transferred via inheritance, the value of the house is stepped up to its fair market value at the time it was transferred, according to the IRS. This means that a home purchased many years ago is valued at current market value for capital gains.
When multiple siblings inherit a house, each owns a portion of a home together. Generally, between siblings, you would each own an equal share of a house. Two siblings may inherit a house 50/50 and three siblings would each inherit ⅓.
If the executor sells estate properties without obtaining unanimous approval from beneficiaries, it would be against a California probate's fundamental principle. This strict rule is because the executor has to perform their duties according to the decedent's will.
How Long Does An Executor Have To Sell Property In California? In the Golden State, there's no hard and fast deadline for an executor to sell a property. However, they do need to keep things moving along with the estate's timely administration.
Siblings can force the sale of inherited property if they pursue a partition action through the court. However, they can only do so if siblings cannot agree on how to distribute the property and the property cannot be otherwise physically divided.
If your brother cheated you out of your inheritance, the courts will first remove him from the executor role then compel him to pay back stolen assets. The courts may also force your brother to pay your lawyer fees for the case. Additionally, your brother may be criminally prosecuted.
You should consider consulting with a trust litigation attorney the moment you suspect a brother or sister is stealing your inheritance or assets from the estate. The sooner you engage counsel, the sooner they can open communications with the suspected sibling and/or their attorney to address the theft.
It depends on your personal circumstances. If you want to live in the home or use it as a rental property, keeping it obviously makes sense. If you don't want to do either — or if it needs significant work that you don't want to commit to — selling it will make more sense.
Only if the executor is also named as trustee, then they can sell without court approval, unless the deceased person's instructions don't allow it. Joint properties with rights of survivorship generally don't need probate as it automatically passes to the surviving owner.
While executors have discretion in some areas, your core decision-making is bounded by: The deceased's will. You must follow their distribution wishes rather than diverging based on your own judgments.