How do I go about selling an inherited hose to my children?

Answer by  patti (29325)

If you have inherited real property and the deed has been file, you can list and sell the property as you would any other real estate.

Answer by  Jaggers (1018)

The only problem here is to convince your children that the price you are asking for the hose is fair. Go on line and show your children other inherited hoses and what the prices are. Be sure to stress how desirable an heirloom hoses are and how important it is to keep these things in the family.

Answer by  tamarawilhite (17883)

Ensure that you have clear title. If you sell at below market cost, this is a gift and can be seen as fraud in the Medicaid look back period.

Answer by  bsample818 (35)

To sell an inherited home to a relative, you can draw up a quit claim or warranty deed and have it recorded through your county's recorder's office. If your children need a loan to purchase the property, keep in mind that a larger down payment will be required since this is considered by lenders as a "non arms length transaction".