What happens when heirs in Japan can’t decide what to do with inherited property?

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Often the estate of a deceased will contain more than just money.  In many cases, a car, boat, house or expensive jewelry will need to be distributed among the heirs.  This can create a problem where each heir owns only a portion of an indivisible object, such as a car or home, and the heirs cannot decide what to do with it.  Under these circumstances it is best if the heirs are able to agree to a voluntary settlement to share or sell the property. 

This settlement takes place between the heirs and can include a variety of creative solutions to their problem of co-ownership.  Some potential solutions could include dividing use of the object by time (such as time-sharing the house or car), selling the object and splitting the proceeds or having one heir buy out the other heirs’ portions of the object.

If you need help drafting or negotiating a voluntary settlement, please contact our office for a legal consultation.