#propertyinheritance

Question: A property that is inherited by a will is said to be transferred by:

Answer: Devise (When real property is transferred by will, it's a "devise"; when personal property is transferred, it's a "bequest.").

Learn More - https://www.trehanluxuryfloorgurgaon.in/

Hold a calm family meeting to discuss everyone’s expectations and preferences.

Gather all relevant documents such as the will, deeds, Certificate of Occupancy, survey plans, and tenancy agreements.

Verify documents with the land registry to ensure authenticity.

Hire a professional valuer to determine the true market value of houses, land, or rental properties.

Decide collectively whether to sell or keep the property.

If selling, list the property on houseforsalenigeria.ng to reach legitimate buyers.

If keeping the property, assign clear management roles for maintenance, repairs, and shared responsibilities.

For rental properties, create a revenue-sharing plan and consider listing units on houseforrentnigeria.ng for better management.

Engage a lawyer early to handle probate, legal documentation, and ownership transfer.

Draft a written family agreement covering ownership, responsibilities, income sharing, and dispute resolution.

Offer buyout options for siblings who prefer cash over joint ownership.

If selling land, ensure consent from all siblings and list safely on landforsalenigeria.ng.

Maintain communication and prioritize family relationships throughout the process.