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  1. #1
    Join Date
    Jun 2012
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    2

    Default How to Sell House with 3 Title Holders

    My question involves estate proceedings in the state of: Wisconsin. To avoid probate prior to my mother's death, we filed and received a TOD on her (our) house and land. My brother has lived there with Mom many years and wants me and my sister to set aside one of Mom's annuity checks to pay for property taxes over the next 3 years. I prefer to follow the will and divide all assets 3 ways.
    Q.1: How do I begin to sell or auction her assets, e.g.'s, coins, tools, vehicle, etc., and
    Q.2: Most pressing--Since I am one of three title holders of a house with no mortgage, how do I sell/auction the house if my sibbling(s) do not wish to buy me out. Market value of house = $100K.

    Lastly, Mom's car title has not been changed (nor its insurance coverage) and is part of her estate. My bro and wife have no licenses but drive it daily. What risks or liabilities exist AND how do I change title and prevent possible liability issues in case of an accident?

  2. #2

    Default Re: How to Sell House with 3 Title Holders

    Does your mother have a will?

  3. #3
    Join Date
    Jun 2012
    Posts
    2

    Default Re: How to Sell House with 3 Title Holders

    She had a will naming all 3 of us as beneficiaries to split all assets 3 ways We have done so with 2 life insurance policies and an annuity.

  4. #4
    Join Date
    Jan 2006
    Posts
    20,682

    Default Re: How to Sell House with 3 Title Holders

    a will does not control the distribution of an insurance policy or an annuity unless the named beneficiary (on the policy or account) of those is the estate. Otherwise, the named beneficiary gets the money and is not obligated to share it.

    Beyond that, a will is not enforceable unless it is presented to probate for verification.


    To avoid probate prior to my mother's death, we filed and received a TOD on her (our) house and land
    explain what you filed.


    Q.1: How do I begin to sell or auction her assets, e.g.'s, coins, tools, vehicle, etc., and
    has anybody opened probate or filed for an administrative disposition of the estate? If not, how you begin to do what you ask is to open probate or file for an administrative disposition (whichever is applicable).


    Q.2: Most pressing--Since I am one of three title holders of a house with no mortgage, how do I sell/auction the house if my sibbling(s) do not wish to buy me out. Market value of house = $100K.
    if title has actually transferred, you cannot sell their share in the property. You can attempt to sell only your share but unless one of the other shared owners wishes to buy it, you will not be likely to find a buyer or you can file a suit to partition the property through the courts. Generally expensive and most folks aren't happy with the results.
    I am not an attorney and any advice is not to be construed as legal advice. You might even want to ignore my advice. Actually, there are plenty of real attorneys that you might want to ignore as well.

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