How to share the property?

My husband as 2 sisters and his father passed away last year and his mother is alive. His father has not made any will. his mother is asking for making a 4 equal share in the property. but his Father had taken the loans which we have to fulfill. Now we want to know how we have to share .We have only a house and a factory which are assets . so how to share

How to share the property?
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2 Replies to “How to share the property?”

  1. It should all go to the mother then be split equally among the children upon her death. if the loans are against the business or assets, you need to pay in order to keep the assets, but if they are credit cards or personal loans that only he signed for, then they died with him.

  2. Not so fast. First of all, your mother is still alive. All assets go to her currently. Now here is the thing, your father’s estate is responsible for his debts. His assets much stand good for his liabilities. So the house and factory must be sold to cover what he owes or the creditors can file liens and attach the property. Provided there is no cash in the estate, either the factory or the house must be sold to cover. If there is enough cash, or your siblings want to come up with the money, you can avoid the sale.

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