What to do When Buying Out a Partition Property Owner
My mother owns a two family house with her brother in law that is fully paid for, so presently their is no mortgage. They both are presently living in the house. He recently remarried and his wife wants to sell his half of the house so they can buy another house out of state. My mother does not want to sell. I was thinking of buying his half so my mother could continue to live there and rent it out to my sister. ( or would it be better if she bought him out)? Do I need an attorney, and how do you go about doing this legally? How do I determine a fair price especially since it is an old house and I do not want to over pay for it?