[WSBAPT] probate question re buying out bene's share of real property

[Sharon Rutberg]

Greetings -

I have a probate where the decedent's residuary estate is divided 50-50 between two unrelated persons. The main asset is a house. One of the beneficiaries is also the PR.

The PR is interested in ending up with the house. What is the best way for him to purchase the other beneficiary's share (assuming she is agreeable)?  Does he need to take out a mortgage for one-half of the house value and pay her with the proceeds? Will a mortgage company agree to that? Does he need to transfer the house to the two of them first via a PR deed and then arrange the buy-out, or can he do it prior to making that transfer?

Appreciate your wisdom!

Sharon

Sharon C. Rutberg, Attorney at Law
Salmon Bay Law Group, PLLC
1734 NW Market St.
Seattle, WA 98107
206-735-3177, ext. 2
sharon at salmonbaylaw.com<mailto:sharon at salmonbaylaw.com>
Website: www.salmonbaylaw.com<http://www.salmonbaylaw.com/>
Washington State Bar #47055

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