Probate Advance is not a lender and does not provide loans. We specialize exclusively in inheritance funding, which is a risk-free financial option for heirs awaiting their inheritance. Inheritance funding is not a loan—there are no monthly payments, no interest charges, and no repayment is required unless you receive your inheritance. If for any reason your inheritance is not received, you owe us nothing.
Aside from inheritance money, you may be wondering what to do with an inherited property. Buying out an inheritance occurs when multiple people inherit a property from an estate. It generally happens with siblings, but anyone named in a will can become joint owners of an estate with an equal share. The situation may arise where siblings inherited property and one wants to keep the property and the others want to sell. This can be a tricky issue that is difficult to navigate without legal advice if they can’t come to agreeable terms. It is helpful to learn how to get an inheritance, so you can be prepared. If you’re wondering how long after probate is the will settled, it happens immediately.
What Happens When You inherited a House with a Sibling?
If your parents or another relative left you and your siblings a house together in their probate will, you have several options on what to do with the property. In a majority of cases, you will have an equal share unless stated otherwise in the will.
Finding the right inheritance funding company could make dealing with this type of inheritance much simpler.
Multiple Options
One option is to keep the home and everyone can enjoy it equally. Perhaps you decide to make it your vacation home and share it with your families. Since you have joint ownership, you have equal rights to spend time there and equal equity in the real estate property.
Another option is to either sell or rent the house out if neither you nor your sibling want to keep the property. You would need to determine how to divide the rent if one takes care of more of the upkeep and other tasks as landlord. If you decide to sell, you would split the profits after selling at fair market value.
In some situations, the siblings can’t agree on what they want to do. One wants to keep the property and the other wants to sell. In these situations, you may need to take your case to court and let the judge order the sale of the home. A third party would be responsible for getting the property ready to sell, which will reduce your profits because their payment would come out of the amount paid.
How Do You Buy Someone Out of an Inherited House?
If you and your sibling can agree on one of you keeping the house and the other selling, the process can be quite simple. You can pay your sibling cash for their share of the real estate property and they will sign the deed over to you. You could also get a mortgage but only for half the value if you are willing to take on the debt. You would need to pay closing costs, and you may need an appraisal to determine the value of the home.
If you can’t get a mortgage, you could set up a private arrangement with your sibling. In the contract, you would spell out how much you would be paying for the other half of the property and the interest rate. You would determine monthly payments and how long until the house is paid off. You would want to have all this done in writing to avoid problems in the future. You would also record a deed of trust to recognize the arrangement. It also gives the other person the ability to foreclose if you become unable to make the payments. This is an ideal situation if the other person is most interested in receiving regular income and not being saddled with real estate they don’t want.
How Do I Refinance an Inherited Property to Buy Out Heirs?
When multiple heirs inherit a property, it’s not uncommon for one heir to want to keep the home while others prefer a cash payout. In these situations, refinancing the inherited property to buy out the other heirs can be a potential solution. This typically involves applying for a traditional mortgage or home equity loan based on your credit, income, and the appraised value of the property. However, if the estate is still in probate or if the title hasn’t been fully transferred to your name, securing a loan from a bank or lender can be challenging or even impossible.
This is where an inheritance advance can offer a more viable alternative. Instead of waiting for probate to finalize or navigating the complex requirements of traditional refinancing, you can use an inheritance advance to access a portion of your future inheritance immediately. These funds can then be used to buy out the other heirs—without the burden of monthly loan payments, credit checks, or risking your personal assets. Since inheritance advances are non-recourse, you owe nothing if your inheritance doesn’t come through.
For heirs facing time-sensitive family decisions or looking to preserve a cherished family home, Probate Advance provides a fast and flexible option. Our process is designed to work within the probate timeline, making it easier to resolve inheritance-related property disputes without the added financial stress or red tape of a traditional refinance.
Can Sisters and Brothers Require the Sale of Inherited Real Estate?
If you inherit a home with your siblings and can’t agree on what to do with it, one or more heirs can petition the court to force a sale. In that case, the property may be listed on the market or sold at auction, with the proceeds divided among the heirs. If you want to keep the home, you may have the option to make an offer or bid on it—but you’ll need cash to do so.
Because inherited property typically goes through probate, the process of buying out your siblings’ shares can be complicated and time-sensitive. Traditional financing like mortgages or home equity loans often involve delays, credit checks, and title requirements that are hard to meet before probate closes.
Probate Advance offers a more flexible solution. If you’re expecting an inheritance, we can provide you with fast, risk-free access to a portion of your future proceeds. Our inheritance advances require no credit checks or repayment if the estate doesn’t distribute, giving you the funds you need to buy out co-heirs and keep the family home—without waiting on the courts.
Apply now or call us today at (866) 359-3187 to speak with a funding specialist.
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