Buying Her Out

Jennifer wants to buy her mother-in-law's house from her sister-in-law, and doesn't quite know what will go into the process.

QUESTION: Jennifer’s mother-in-law left her house and 80 acres to her husband and his sister before she died. They want to buy the sister out of her share so they can own the house free and clear. Is there anything special they have to do with the house deed or would it be like buying from anyone else?

ANSWER: Go to a title company and do a sale contract for that half. I would recommend you do a title policy, then take the money to a closing table and she signs a deed for her half and she walks away with the money and you own the property.

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