my two uncles and i inherited a third each of my grandmothers estate when she died. my one uncle and i are selling my grandmothers home to my other uncle at below fair market price for 5,000. does he get a third of that money and the home or does my other uncle and i split the 5,000 and we just sign the deed of the house over to him and he owns the house with no mortgage? i am still very confused on how this is going to work.
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You can do it any way you want.
I recommend you sell uncle#1 your 1/3 share and uncle #2 does the same thing. Have it quitclaim deeded to uncle #1.
A non-recommended way is to just sell it for like $680K and he takes back his 225K at closing.
GET YOU OWN LAWYER! Do not trust either uncles lawyer.