How do I determine interest a quarter of the inherited property? 13 Answers as of January 06, 2012

You own an undivided 1/4 interest. That means that you don't own a specific 25% portion of the property (like the southwest corner of the lot) but instead own 1/4 of the whole. Thus, in answer to your question, it is quite problematic to build a structure or start a business on the land. Unless the other owners agreed in writing that the building or the business belonged solely to you, they would have a strong argument that they each owned an interest in whatever efforts you expended. If they signed a release or an agreement stating that your efforts inured only to your benefit, then you could perhaps proceed. Otherwise, it would be incredibly risky on your part to assume that your efforts would inure solely to your benefit.

A partial interest in real property is normally an undivided interest meaning that each owner has the rights and responsibilities of ownership to the extent of their percentage interest. All owners must agree on the use of the property. Your specific questions should be directed to a real estate attorney.

You do not disclose what type of property it is or if it is held in trust or distributed outright. Thus without more information any answer will contain much speculation.

The answer to your question depends on the all of the facts of your specific situation. No attorney can give you specific advice to your situation without knowing the entire situation. I can comment generally based on the information that you provided in your question. However, you should understand that the information contained in your question does not contain essential information needed to provide you with legal advice. This message is not intended to be legal advice for you and you should not consider that we have formed an attorney/client relationship. I am assuming that you are in Oregon and that Oregon law applies. You are asking the right questions and I urge to keep at it until you get the answers you need. The answers depend on how the interests in the real estate are owned. The main possibilities include tenancy in common, partnership, limited partnership, corporation or limited liability company. Most of these should have a written agreement. If there is a written agreement, get a copy and read it carefully. It should answer many of your questions. If there is no written agreement, you will need to consult an attorney before you put any money into improving the property.

You and your husband do not want to build on the property until you have either partitioned the property or entered into an agreement with the other siblings that determines your respective interests. Since all four owners have title to an undivided one-fourth interest in the property, any improvement you make would benefit all owners. Generally, the easiest approach is to buy out the other owners. If you would need financing to build or to start a business, the lender is not going to extend credit to you unless you own the property outright. If the siblings cannot come to an agreement about sale or division of the property, it is possible to bring a legal action to partition the property. The court can physically divide the property into separate parcels of equal value, if this is practical, or it can force the sale of the property and a split of the proceeds.

The answer to your question depends on how the tenants are associated... In other words, you may be tenants in common; or you may be joint tenants... or some other form of ownership. To resolve this issue, one must look at the deed. Once you have determined tenancy, you can begin the analysis of land rights.

Before you make any changes or improvements to a property where others have an interest, you would need written agreements or otherwise have themtransfer to you their interest.For example, you could get each to deed you their 1/4 interest in a specific parcel of the property, that constitutes 1/4 of the total property, and compensate them, if you need something more than 1/4 of the property.

Before anyone can answer your questions the deed and other related documents would need to be reviewed by an attorney proficient in real property law. Good Luck!

This is a question way too complicated for a simple internet answer. Essentially, depending on the will language and the language of the personal representative deed that conveyed the interest out of the estate into the four interests, you may have the right to request partition (making part of the property yours and leaving the rest to the others), you may be unable to do that, and again, depending on the title and will or trust, you may or may not have other rights such as living on the property or using it in a productive manner. Of course, the four interests can do about anything they agree upon. If everyone is at 6s and 7s, then the options are more limited. Your best bet is to find a good lawyer who provides advice on this kind of issue on a regular basis and review your specific facts; the lawyer will be able to give you an analysis of the law and your options.

Anything that your husband decides to do with the property should be done with agreement of all of the owners. The agreement should be in writing setting forth each party's rights and responsibilities. If the owners cannot agree, then your husband may bring a partition action to divide the parcel or force a sale. He may also try to buy out his brother's shares.