How do you get your share of property when someone dies?
My father just died. I think we have to wait 6 months but he owned a lot of property. He left a trust with 4 people; 2 get 20% of all properties and assets and 2 get 30%. I'm a co-trustee so I share some responsibilities with my brother but we are butting heads because he wants to keep the properties for an unspecified time and I just want my share and out of it. I do not want to sue for my share or something. What will happen if we butt heads? Thanks for your time.The only real way to split it is have it appraised and your family buy your 30% or sell all the property and split it like it was willed. If you can not agree you will need to goto court.Talk to yhe executor of your father's will and estate.If there are no specific times for having to wait for your share then your brother has to cough it up.Legally need to asked your attorney on this matter okYour Dad did the right thing, sounds like it is in a Living Trust. What ever the Trust says, goes. There is not usually a waiting period. Kind of a stupid time to sell. Being greedy to get your 30% is a bad investment move! If you were all smart, you would keep the property and rent it out and collect rent FOREVER! If you all need cash, cash out the property, keeping the payments below the rent amount. This way you can have your cake and eat it too....meaning you get cash now, and the renters pay the money back. Then, it will be paid off again and you can collect money forever. NEVER SELL REAL ESTATE...25 BUY 65! I know 4 young ladies who just sold their mothers property for greed, gave it away and after costs, etc., they would have been so much better off getting it prepared to rent and collecting the money! Of course, taking some equity out first, they might have actually got more money in hand that way, you may too!
