How can real estate be best divided in the case of inheritance?
September 25, 2023 | 40,00 EUR | answered by Mia Widmann
Dear Lawyer,
I am facing a difficult situation and hope you can help me. My family and I recently inherited and now we are wondering how to best divide the properties. We have inherited a total of three properties, including a single-family home, a vacation rental, and a multi-family house.
The properties vary greatly in value and utility, which makes the division not easy. My main concern is that the division is fair and just for all parties involved. I am worried that disputes could arise if we do not find a clear solution.
I would like to know from you what options there are for dividing properties in the event of inheritance. Are there specific legal regulations or procedures that we should consider? How can we ensure that the division is fair and transparent?
It would be very helpful to me if you could give me some tips or recommendations on how to best approach this issue. Thank you in advance for your support.
Sincerely,
Roberta Weiss
Dear Mrs. Weiss,
Thank you for your inquiry regarding the division of inherited properties. I understand that this is a difficult and delicate matter, as various interests and needs within the family must be taken into consideration. It is important that the division is fair and just to avoid disputes and disagreements.
In general, there are various ways in which inherited properties can be divided. Firstly, you should be aware that the legal inheritance rules dictate how the inheritance will be divided. If there is no will, the legal inheritance quotas apply, which vary depending on the degree of relationship. In your case, if you inherit with your siblings, these legal quotas would apply.
However, there is also the option of a testamentary disposition, in which the deceased can specify how their properties should be divided. If a will exists, you should carefully review it to see if any provisions regarding the division of the properties have been made.
If there are no clear provisions, you can sit down with your siblings and find a solution together. It is important that all parties express their wishes and needs and make compromises to achieve a fair division. Perhaps certain properties can be exchanged or taken over by other heirs in exchange for payment.
You could also consider involving a neutral appraiser to estimate the value of the properties and assist in the division. Another option would be to divide the properties as co-ownership, so that each heir owns a share of the properties. However, this requires a clear arrangement regarding the use and maintenance of the properties.
In any case, it is advisable to seek professional help to avoid legal pitfalls and ensure a fair division. An experienced estate lawyer can assist you in the division and show you the various options available.
I hope this information is helpful to you and wish you success in dividing the inherited properties.
Sincerely,
Mia Widmann, Attorney at Law
