Selling my share of a future inheritance?

[dougthemusicman]

Mom and Dad are now divorced. Court order awarded Mom the house (located in Huntington Beach, California) worth $600,000 and further stipulates that upon her death, house is divided into 5 equal shares amongst Dad, myself, and three other siblings.

Mom received a letter from a trust company stating that Dad has sold his share to this trust company. I am interested in "cashing out" as well to avoid possible conflicts with brother and sisters later on.

Can I "cash out" now or am I going to have to wait until Mom's death?

Thank you in advance your reviewing my post.

 

[seniorjudge]

You don't have a "future inheritance". There is no such a thing.

Ma could change her mind at any time and you could wind up with nothing.

But, if you can find someone to give you money for this possibility, then have at it. Just make sure you tell them you can't guarantee anything.

 

[tecate]

What is the exact language in the court order awarding her the home? Could it be a life estate? Does the order say what happens if the home is sold?

 

[calalily]

I think Seniorjudge misread the post. Tecate is correct in asking if the house is held in a life estate. Before we can answer your question, we need to know exactly how the court order is worded; however, if your dad was allowed to this you should be able to do the same. An Estate lawyer would be able to answer your questions definatively.