Inheritance of land

[lamaredskin]

thanks for everyones response. I will be contacting an attorney. if i could buy all 25 acres i would and for the people saying my dads half is up to him yall are right but in return i dont have to buy the property at all and could back away from the deal. 25 acres may not seem like a lot for the fight but what i have ive worked hard for and hate to see something ive bought and worked for to improve and invest money into go to someone else even if its blood just because they feel like they are owed it. i have spoke to my sister and one believes it isnt fair which is why im glad ive knocking this out before the issue ever comes up

[BrianL]

thanks for everyones response. I will be contacting an attorney. if i could buy all 25 acres i would and for the people saying my dads half is up to him yall are right but in return i dont have to buy the property at all and could back away from the deal. 25 acres may not seem like a lot for the fight but what i have ive worked hard for and hate to see something ive bought and worked for to improve and invest money into go to someone else even if its blood just because they feel like they are owed it. i have spoke to my sister and one believes it isnt fair which is why im glad ive knocking this out before the issue ever comes up

Based on your post I would probably avoid this deal. Any work you do to your dad's part will likely increase value and this increase will be split with your sisters or they may decide to keep it.

[Snakelover]

It's good that you're thinking of this now.

[Burnadell]

I will stack my two law degrees with your 0 law degrees to say unequivocally that it CAN and has been done innumerable times in Texas.
OP will need to have an attorney draft the documents.

Well, I have been wrong before and have been trumped, schooled, and learned something new.....again!

In 45 years as either a banker, making loans on real estate, or in the investment business, helping settle estates, I have never seen a single deed with the grantee listed as JT/WROS...but it CAN be done. Thanks for the lesson. I stand corrected.

[Atfulldraw]

I will stack my two law degrees with your 0 law degrees to say unequivocally that it CAN and has been done innumerable times in Texas.
OP will need to have an attorney draft the documents.

I just came by to say I'm glad to see someone has more useless law degrees than me......

[2B4Him]

I just came by to say I'm glad to see someone has more useless law degrees than me......

It takes some of us a long time to determine what we don't want to do with the rest of our lives.

[Hart8]

To accomplish what you want, he simply needs to amend his will to specify those specific instructions.

This

[DAllen]

I think this could be accomplished as part of the partnership agreement. As part of the agreement; state that should your father die that you are granted the exclusive right to purchase his interest at a specific or stated price. Then have the partnership purchase a life insurance policy with a face amount that equals that stated price. That way when your father passes you will receive the death benefit which would be used to pay the estate and you would have the land in your name. Also you would receive 1/3 of the estate. Sounds like a win, win, win.

[buckwild17]

Keep asking questions until you get an answer you can live with, and go from there !! Estate divisions can be the death of a family !!

[Eagles1181]

I think the cleanest deal would be to put an options contract in place on the land. You have the option to purchase the property at market value from his estate. When he passes, you purchase the land from the estate before anything is divided. You get the land, the estate gets an equal amount of cash, which is then divided between the three of you. A lawyer should be able to draw something up for you for not a lot of money.

Eagle