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My father's will states that my brother and I split everything 50/50 including the house. So...

Tyler, TX |

How can I determine the value of the home so that I can buy him out?

Attorney Answers 3


  1. Determining value for real property can be difficult since it that depends on many factors, such as the property condition, location and market conditions. You could start with the County tax appraisal value. It is suppose to be the fair market value as of January 1 of each tax year. You and your brother agree on that value use another or combination of methods. You could get a relator's opinion of value or hire a licensed real estate appraiser to prepare an appraisal.

    Ultimately, it is what you and your brother agree to that counts.


  2. Mr. Shay is absolutely correct that the tax appraisal value or the opinion of one (or several) realtors is an excellent starting point. Of course, agreeing to a value is really only a part of the process that you're facing.

    You do not mention whether or not your father's Will has been admitted to probate. In many cases, there is a necessity for administration of the estate. There may be additional assets to collect or debts to resolve. In administrations such as this, an executor is appointed by the Court and that individual is responsible for filing a sworn Inventory of the estate. That inventory would reflect the value of the home as of the date of your father's death, and this value might also be a good jumping-off point for negotiating the consolidation of ownership.

    The Will might also be admitted to probate simply as a muniment of title, and there would be no executor or Inventory. In any event, you are well-served to address the situation with your brother openly and with a mind toward cooperation and agreement. Just don't forget that there may be some housekeeping with the probate court that comes along with that agreement.

    This answer does not constitute legal advice. I am admitted to practice law in the State of Texas only, and make no attempt to opine on matters of law that are not relevant to Texas. This answer is based on general principles of law that may or may not relate to your specific situation, and is for promotional purposes only. You should never rely on this answer alone and nothing in these communications creates an attorney-client relationship.


  3. Both attorneys offer sound advice. You should start with the assessed value and then get a couple realtors to give a written assessment of value and try to come to an agreement.

    Hope this helps.

    Please remember to designate a best answer to your question.

    Mr. Fromm is licensed to practice law throughout the state of PA with offices in Philadelphia and Montgomery Counties. He is authorized to handle IRS matters throughout the United States. His phone number is 215-735-2336 or his email address is sjfpc@comcast.net , his website is www.sjfpc.com. and his blog is

    LEGAL DISCLAIMER Mr. Fromm is licensed to practice law throughout the state of PA with offices in Philadelphia and Montgomery Counties. He is authorized to handle IRS matters throughout the United States. His phone number is 215-735-2336 or his email address is sjfpc@comcast.net , his website is www.sjfpc.com. and his blog is <http://frommtaxes.wordpress.com/> Mr. Fromm is ethically required to state that the response herein is not legal advice and does not create an attorney/ client relationship. Also, there are no recognized legal specialties under Pennsylvania law. Any references to a trust, estate or tax lawyer refer only to the fact that Mr. Fromm limits his practice to these areas of the law. These responses are only in the form of legal education and are intended to only provide general information about the matter within the question. Oftentimes the question does not include significant and important facts and timelines that if known could significantly change the reply or make such reply unsuitable. Mr. Fromm strongly advises the questioner to confer with an attorney in their state in order to ensure proper advice is received. By using this site you understand and agree that there is no attorney client relationship or confidentiality between you and the attorney responding. This site should not be used as a substitute for competent legal advice from a licensed attorney that practices in the subject area in your jurisdiction, who is familiar with your specific facts and all of the circumstances and with whom you have an attorney client relationship. The law changes frequently and varies from jurisdiction to jurisdiction. The information and materials provided are general in nature, and may not apply to a specific factual or legal circumstance described in the question or omitted from the question. Circular 230 Disclaimer - Any information in this comment may not be used to eliminate or reduce penalties by the IRS or any other governmental agency.

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