property has been sold how to determine each heirs share?

Update:

there are 5 heirs.

Update 2:

There are 5 shares: 1 whole share, 2 half shares and 2 1/3 shares. How to calculate the shares?

Update 3:

No one really gets this.  There is no will. There are 11 heirs and only 5 shares; one heir gets a whole share, 2 shares go to two sets of heirs to be divide by two, and the last 2 shares go to 2 sets of heirs to be divided by 3. So, how do you calculate how much each heir receives. There is a formula but I can't find it.

9 Answers

Relevance
  • G R
    Lv 7
    1 month ago

    You really give more details, ok any details, as to what your situation is. an "heir" would be determined by the persons Will or Trust as that would designate who is entitled to what and how much.  If they didn't leave a Will/Trust then the courts decide who gets what and how much.

    • ...Show all comments
    • G R
      Lv 7
      3 weeks agoReport

      If no Will or Trust the property would have to go into probate court along with all of the decedents property and  assets... and the judge would have to decide who gets what and how much, provided you are in the United States.  Just because one is related does NOT make one entitled to anything.

    • Commenter avatarLogin to reply the answers
  • 1 month ago

    Each of the 5 shares is 20% of the whole (whole is 100%, so 1/5th of 100% means each share is 20%). 

    The heir that gets a whole share gets 20%. The 4 heirs that get half shares, get 1/2 of 20% or 10% each. The 6 heirs that get 1/3rd shares, get 1/3rd of 20%, or 6.66% each.

    • Haleem1 month agoReport

      Thanks, that;s what I was looking for,

    • Commenter avatarLogin to reply the answers
  • 1 month ago

    5 or 11 heirs.  If 5, the shares are not all accounted for.  1 + 1/2 + 1/2 + 1/3 + 1/3 = 2 + 2/3 shares.  5 - 2 2/3 leaves a balance.  If 11 heirs, 1 (for himself) + 2 (goes to two sets, div by 2) --- 4 div by 2 = 2 so 1 set (1 couple gets 1 & the other couple gets 1) + 2 (= 5) but why would 2 shares go to two couples, only to be divided by 3?  It doesn't make sense.  If only 3 of the 4 are to be receiving a share or part of a share, then why was it given to the four to begin with?  NONSENSICAL.

    Source(s): Certified Paralegal, with 25+ years' experience & with Wills & Estates law experience.
    • Haleem1 month agoReport

      You are right, Your response is nonsensical.

    • Commenter avatarLogin to reply the answers
  • 1 month ago

    The will states it, or it's an even split in the absence of specific language.

    • Haleem1 month agoReport

      There is no will.

    • Commenter avatarLogin to reply the answers
  • How do you think about the answers? You can sign in to vote the answer.
  • 1 month ago

    YOU ARE THE ONE THAT DOESN'T GET IT...YOUR BREAK DOWN IS NONSENSE....WE ARE NOT PSYCHIC....YOU DID NOT GIVE APPROPRIATE DETAILS>  YOU SAY 5 HEIRS, Than 11.>>>>HOW ARE YOU DETERMINING SHARES??????  what country is this...why are they not getting equal shares?  are some distant relatives who legally get less than close relatives?

    what does the will say?  if all are equal than 100% of the profit divided by 5.  For example, it sold for $100,000.  100,000 divided by 5 = 20,000 each

    the share division does not make sense, you need a lawyer to interpret....and not depend on Yahoo Answers to figure out a legal issue.

    if 1 person has 1 whole share...they get 100%...so it doesn't make sense...there would be nothing left for the others.

    total shares equal 2.66.....maybe try posting this in the math section.

    • Haleem1 month agoReport

      No! What country are you from? You need to go back to school and learn basic math. See the correct answer above that someone gave.

    • Commenter avatarLogin to reply the answers
  • Anonymous
    1 month ago

    What does the will state about the division of the assets ?

    • Haleem1 month agoReport

      There is no will.

    • Commenter avatarLogin to reply the answers
  • 1 month ago

    Look at the closing statement from the escrow company.

    find the amount of the net proceeds - this is the amount that should be deposited into the estate's bank accounts after the escrow company pays off the mortgage, pays real estate fees, and pays everything else the seller owes as part of the transaction.

    Divide that number by 5

    Or multiply that number by 0.2

    • Haleem1 month agoReport

      This does not give the amount each 11 heirs receive.

    • Commenter avatarLogin to reply the answers
  • Robert
    Lv 7
    1 month ago

    I'm guessing with modern mathematics using division.

    • Commenter avatarLogin to reply the answers
  • 1 month ago

    Divide evenly between each of the heirs.

    • Haleem1 month agoReport

      Not right.

    • Commenter avatarLogin to reply the answers
Still have questions? Get your answers by asking now.