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Arizona Real Estate Law
by Christopher A. Combs
The following is for informational purposes
only and is not intended as definitive legal or tax advice. You
should not act upon this information without seeking independent
legal counsel. If you desire legal, tax or other professional advice,
please contact your attorney, tax advisor or other professional
consultant.
Partition Action Required to Settle Inheritance Dispute
Question: Last year my father and mother were both killed in an automobile accident near Flagstaff. My sister and I are the only heirs of their estate. Our parents’ accountant is the personal representative of their estates, and he has now distributed all of the assets of their estates to my sister and me. Although my sister and I have agreed on almost everything, we now have a dispute about a 38-unit apartment building in Glendale that we have inherited. My sister wants to sell this apartment building because she needs money, but the apartment building has a positive cash flow and I do not want to sell the apartment building. If my sister and I continue to argue about what to do with this apartment building, what happens? Do we toss a coin?
Answer: If you and your sister cannot agree on whether or not to sell the apartment building, a partition action will have to be filed. In this partition action a court will appoint a special commissioner to sell the apartment building. This special commissioner is usually a real estate broker who will be compensated by a sales commission. After the closing of the sale of the apartment building, the net proceeds of the sale should be divided equally between you and your sister.
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