Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime

Let's keep in touch

Subscribe to our newsletter for timely insights and actionable tips on your real estate journey.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions
Followed Discussions Followed Categories Followed People Followed Locations
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 7 years ago on . Most recent reply

User Stats

54
Posts
9
Votes
Justin Denham
  • Tampa, FL
9
Votes |
54
Posts

Buying out 1/2 of a probate property

Justin Denham
  • Tampa, FL
Posted
Hi all, a friend of mine had a parent who passed away. Following probate, the property was left to her and her brother. She would like to partner with me and flip the home, but her brother just wants his money and be done with it. He has agreed to let me buy him out of his half of the property for $60,000 and he will then quit claim his half to me. How should I or would you, structure the documentation for this deal? I’m not sure if I should use my normal contract, then have him and her quit claim the property to a trust or if he would only quick claim his portion of the deed. She is not selling her portion and does not want to be liable for the taxes on his portion of the sale. Any wise words would be appreciated.

Loading replies...