Legal Question in Real Estate Law in New Mexico

we are three sisters listed on our fathers will and we have an interest on the property home he and mom left to us one sister is not willing to help and wants her 1/3 how can we prevent this from happening we offered to buy her out but she refuse the amount she wants the home appraised who should pay for that as well.


Asked on 3/03/11, 1:04 pm

1 Answer from Attorneys
Charles Aspinwall Charles S. Aspinwall, J.D., LLC

Well, if you do nothing, what can she do? The usual legal procedure in such a case is called a "Partition" suit, and usually ends up with the property being sold and the net proceeds distributed equally. The easy way out would be to have the home appraised by 3 appraisers so you get the figure closest to the real value, and expenses split 3 ways. Then buy her out for 1/3 of the appraised value. I recommend a memorandum agreement signed by the 3 of you concerning what is to happen before taking any action.

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Answered on 3/08/11, 11:34 am


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