 paheser
Joined: 28 Sep 2009
Posts: 1
1.28 Dollars($)
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 Posted: Mon Sep 28, 2009 8:19 pm Post subject: Beneficiaries of LifeEstate Rights |
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| After my Mother died my brother, sisters and myself became owners of an 80 acre farm in Minnesota. We all have an equal right in the say as to what happens with this farm, Right? The problem being, one of my sisters has already sent the renter termination papers and is talking about selling the farm. |
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smithsussane
Joined: 18 Sep 2008
Posts: 3738
Location: Alaska
561.45 Dollars($)
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| Posted: Mon Sep 28, 2009 10:24 pm Post subject: |
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Hi paheser!
Welcome to forums!
It is true that all of you have equal rights to the property. Your sister will not be able to sell her portion of the property. All of you will have to sell off the farm and then equally divide the money amongst yourselves. Or else, you and your other siblings can buy out your sister and ask her to transfer the property to you. Thus, she will receive her share of the money and you would also be able to save the property.
Feel free to ask if you've further queries.
Sussane |
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