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Heir Property Pennsylvania

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  • Heir Property Pennsylvania

    My Mother is one of 12 heirs to a property left by my Grandmother. My cousin has been living in property for the past 12 years. She has been living there without having to pay any rent with the understanding that she was to maintain the upkeep of the property and pay the taxes. My cousin now wants to sell the property. The taxes have not been paid in the past 5 years and the property requires work. She has already gotten 8 of the 12 heirs to sign the property over to her and now wants to my Mother to sign over rights to her share of the property. We are trying to come to an agreement on a buy out price. The problem is that my cousin wants her signature now but wants pay upon the sale of the property. Can an agreement like this be done and legally bidding? Does my Mother lose her rights if she signs before she receives payment?

  • #2
    Use a sales contract drawn up by an attorney

    Originally posted by bear1987 View Post
    My Mother is one of 12 heirs to a property left by my Grandmother. My cousin has been living in property for the past 12 years. She has been living there without having to pay any rent with the understanding that she was to maintain the upkeep of the property and pay the taxes. My cousin now wants to sell the property. The taxes have not been paid in the past 5 years and the property requires work. She has already gotten 8 of the 12 heirs to sign the property over to her and now wants to my Mother to sign over rights to her share of the property. We are trying to come to an agreement on a buy out price. The problem is that my cousin wants her signature now but wants pay upon the sale of the property. Can an agreement like this be done and legally bidding? Does my Mother lose her rights if she signs before she receives payment?
    A contract can be drawn up to sell the property to the proposed buyer. Your mother can sign to sell here interest to the buyer through an attorney. The closing attorney would pay your mother directly the value of her interest minus closing expenses in selling the property. Your mother would not lose here interest by selling her interest using a sale contract. If the buyer does not close the deal, your mother would still own her interest. The property should be apprised to determine a selling price. The buyer should pay money in an escrow account to ensure that he is serious in buying the property.
    I am not an attorney. My personal opinions are not legal advice.

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