We recently posted a story about the all too common situation of a sibling refusing to get out of the family home once the last surviving parent passes.
The home needs to be sold, either by the Trustee of the Trust that owns the home, or the executor of the Estate of the parent who has passed away – and whose Will called for their Estate to be divided up among the children.
In shorthand these cases can be called “buy out, get out or kick out” cases. Because the hold over sibling needs to buy the other siblings out, or get out of the house so it can be sold, or – if she won’t cooperate at all – evicted.
Creedon & Gill settled a case like this today in Richmond County (Staten Island). The hold over sibling had stonewalled for years and years before we got involved. But we put the case in suit and pressed it.
In a Court Ordered Mediation hold over sibling agreed to obtain a money mortgage to buy her sister out within 60 days, and if she couldn’t get a mortgage for the agreed upon amount she promised to allow the home to be sold, and to get out at closing. She also agreed that if she didn’t get out she would be disinherited completely.
The agreement was memorialized in a written “memorandum of understanding”. It was a good result for our client. We were happy to achieve it for her.