I own a percentage in a family estate that spans two different land lots. I own 16.5% and my Uncle owns a 33.5% in that same estate. We want to combine our interests to total 50% so that we can both move together onto one of the lots (the least expensive one) and let the other 3 family members inhabit the other lot together. My Uncle and I want to create a Trust for our (combined) property and the others do not. My Uncle and I own an LLP together as well and would like to have our assets combined for the purpose of doing business.
How do we combine our 'interests' in this Estate in order to submit a request for reassignment of division of property and count as ONE entity (at 50%) instead of two seperate entities (at 16% and 33%)?
I would contact an attorney in MT that has experience with probate and real estate. Depending on who is involved in these various partnerships / estates this may be possible. Not sure if there would be zoning issues involved in that area of the country.
This is not legal advice nor intended to create an attorney-client relationship. The information provided here is informational in nature only. This attorney may not be licensed in the jurisdiction which you have a question about so the answer could be only general in nature.
That situation and your objectives are fairly complex and there are several moving parts. Your wisest move would be to consult a lawyer with both real estate and estate planning expertise keeping in mind that there are also some tax considerations. If this 'family estate' arises because of a death, the lawyer also needs experience with probate.
These comments do not constitute legal advice. They are general comments on the circumstances presented, and may not be applicable to your situation. For legal advice on which you may rely consult your own lawyer.
Both of the other attorneys suggested specialty areas an attorney should have in looking at your situation. It is complex but perhaps more common in your state.
The information provided herein is not, nor is it intended to be, legal advice. It is for informational purposes only. No attorney-client relationship has been created and we have no obligations to you or your case.
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