i live in a house that owned by 9 heirs, i would like to buy them out and keep house for myself

Asked by Aaaa, Cordele, GA Thu Aug 26, 2010

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Solomon Gree…, Agent, Duluth, GA
Fri Aug 27, 2010

I would check with an attorney on this one. Some things to consider.

1. How long has this property been heir property?
2. Who has been maintaining it (paying the taxes and for upkeep)
3. Has that maintenance been notorious (have the neighbors seen you, for example, caring for the property regularly)?

If you have been occupying and maintaining the property for ten years, ask your attorney about how adverse possession works or whether that might apply here.

Solomon Greene
REALTOR® Keller Williams Realty Atlanta Partners
(678) 775-2677
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Michael Hamm…, Agent, Suwanee, GA
Fri Aug 27, 2010
Not being an attorney, I can only share my opinion. Are you an heir also, Aaaa? If so, who is the executor/executrix? Has the will been probated? Last, did the executor get an appraisal ordered upon the death of the previous owner? What I have seen work in these situations, assuming all the i's are dotted, is that the heirs decide on a price at or near fair market value, and the buyer obliges. If you are an heir-one of the ten-your purchase price is reduced by 10%, or your share of the asset. I sincerely hope this helps and send my condolences for your loss. Good Luck!

Michael Hammond

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