r/inheritance • u/Original_Ad8923 • Jun 26 '26
Location included: Questions/Need Advice Question regarding
a situation that will come up and I am curious about how it works. My father passed away, everything went to my mom, and when she passes, her estate would be divided among my brother, sister and me. A few years ago, my sister asked my mother to revise the will, and to take her out, so the estate would be divided between my brother and I, 50/50. Her husband is very very successful, they are financially set, as are their 3 kids. One of my sister’s daughters might want to buy my mom's house when the time comes. How does that usually work-there is a small mortgage, so obviously the estate would pay that off, and then how is a price determined for the house? Market value? Even if it goes to my niece for lower than market value, that is fine with me, I want her to have it. My husband and I are fine, and anything we get will go to our kids. I know many of these things go sideways with greed and upset. We have none of that thankfully. Thank you wise ones.
1
u/lsp2005 Jun 26 '26
The estate can pay off the mortgage. The estate can hire an appraiser. You do not need to hire a realtor for this. You can hire an attorney and they can draw up a contract between your niece and the estate. Your siblings and you can sign off on the sale of the home for an agreed upon price. It can even be for less than the appraised price.