In a context where inheriting real estate can generate family tensions, the situation of having an inherited apartment and one of the siblings not wanting to sell it is quite common. After the passing of a loved one, the heirs must face the decision regarding the fate of the assets left behind. If one feels emotionally connected to the property and the other is interested in selling, it is crucial to find a solution that respects the wishes of both parties.
A practical option is for the sibling who wants to keep the property to buy out the portion of the sibling unwilling to sell. To do this, it is recommended to establish a settlement agreement that determines the value of the apartment, considering both its market value and any improvements made. It is advisable to have a real estate appraiser evaluate the property to ensure that the price is fair and equitable.
Once the value is determined, the sibling interested in acquiring the property must consider how to finance the purchase. This may involve obtaining a mortgage loan or using personal savings. It is also possible to agree on installment payments, where the sibling keeping the apartment compensates the other in installments.
Another valid alternative is to lease the property to the sibling who does not want to sell. Both siblings could sign a lease agreement at a reasonable price, allowing the sibling staying to enjoy the property while compensating the other for their share over a specific period of time. Eventually, if circumstances allow, they could reevaluate the possibility of selling the property.
It is essential not to overlook the legal aspects involved in inheritance. Consulting with an attorney specializing in estate law can be key to avoiding legal complications and ensuring that all procedures are carried out in accordance with current regulations. Good legal advice will facilitate the drafting of contracts and protect the interests of both parties.
Finally, maintaining open and honest communication is crucial. Empathy and a willingness to reach agreements are essential to resolving these situations amicably. Often, the most effective solution is one that benefits both siblings, thus avoiding resentments that could harm their long-term relationship.
Source: MiMub in Spanish