How To Sell an Inherited Property When Siblings Can’t Agree

When parents pass away, their children may inherit the home as their next of kin, particularly if the parents didn’t leave behind a will. Unfortunately, co-owning a property can cause conflicts if the owners disagree about the home’s future. Selling a house when siblings can’t agree on what to do with the property can complicate the process, but it doesn’t mean all hope is lost.

If you want to sell your house in Chattanooga, TN, that you inherited with siblings, here’s what you should know.

What Are Options Siblings Can Explore After Inheriting a House?

Before deciding what to do with an inherited home, you and your siblings may need to complete the estate settlement process. This can involve handling the deceased parent’s assets and debts and determining how the property will transfer to beneficiaries. 

Once the settlement is complete and the property officially transfers to you and your siblings, you can consider one of the following options: 

• Keep and share the property: The family can use the residence as a vacation home and split expenses, such as mortgage payments and property taxes, under a written co-ownership agreement.
• Rent it out: You and your siblings could turn the home into a rental property for passive income.
• Sell it: If no one wants to keep the joint-owned property, consider selling it and splitting the proceeds among the sellers.
• Buyout: If you want to keep the property but your siblings don’t, you could buy their shares in the home to take full ownership. 

Can One Sibling Force a Property Sale?

Trying to sell a house when siblings can’t agree about what to do with the property sometimes leads to legal action. For instance, you could file a partition action, which is a proceeding that puts the sale or division of the property in a judge’s hands. Depending on the circumstances, the court may resolve the dispute in several ways:

• Partition by sale, which requires the sale of the home with the proceeds split among the co-owners according to their ownership interest
• Buyout, which may allow one co-owner to purchase the other co-owners’ interest in the property
• Partition in kind, which is the physical division of the property into separate parcels when it can be divided fairly

It’s usually best to settle sibling disputes over an inherited home through open communication before moving into litigation. Mediation with a neutral third party may also help you and your siblings reach an agreement about what to do with the inherited house.

Consider a Cash Home Sale for Your Inherited Property

Selling a house when siblings can’t agree can be overwhelming, but our team at Chattanooga Property Solutions can help. As a one-stop real estate solution and cash home buyer serving Chattanooga, TN, we make fair cash offers on homes in the area. We buy houses without requiring repairs or upgrades, making our approach more convenient for you. 

If you’re selling a house with multiple owners, dealing with an impending foreclosure, or experiencing bankruptcy, we’re the team to call. Reach out today at (423) 454-3070 to get started.