Quote:
Originally Posted by retiredguy123
It is often a mistake to allow more than one person to inherit and share ownership in a house, unless you really know that it will not cause arguments between the children who inherit it. A friend of mine owned an inherited house as joint owners in common (brother and sister) for years and they could never agree on what to do with it. Finally, the brother sold his share of the house to a guy who moved into it with his wife and children. So, the sister was left with half ownership in a house that a stranger was living in, and she could do nothing about it. In my opinion, it is often better to direct the executor of your will to sell the house and split the proceeds among the beneficiaries.
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Agreed. I went through this with siblings and it caused animosity. Best to sell and split the proceeds (if any).