Legal Question in Real Estate Law in Minnesota

Hi, I'm one of three heirs to an estate which includes a house and property. I'm buying out the share of one of the other heirs because they need the money now. I'd like the other heir, who still has 38% share in the estate after the buyout, and is living at the property to agree to either sell the property or buy out my share within the next 5 years. What is the best way to create a legally binding contract in this situation? Is an attorney needed?

Asked on 3/12/20, 7:37 am

1 Answer from Attorneys

Morgan Kavanaugh Wilkerson & Hegna, PLLP

Great question. To be binding, it would have to be in writing and you would also want it recorded. Our firm is experienced in drafting these types of agreements and would be happy to meet for a free consultation to discuss further, please give me a call at 952-897-1707. -Morgan Kavanaugh, Wilkerson & Hegna, PLLP 7300 Metro Blvd., Suite 300 Edina MN

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Answered on 3/12/20, 12:44 pm

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