Detailed answer — step-by-step process under Tennessee law

When a parent dies and real property (a house) is part of the estate, multiple heirs or beneficiaries may have ownership interests after probate. If you want to keep the house and buy out your siblings’ shares rather than sell the property through the probate process, here are the usual steps under Tennessee practice and the legal issues you should expect.

1. Confirm how title will pass.

   Determine whether the house is owned personally by your parent, held in joint tenancy or tenancy by the entireties, or owned through a trust. If there is a valid will, the named executor handles the estate. If there is no will, the court will appoint an administrator and the estate will be administered under Tennessee probate law (see Tennessee probate resources at the Tennessee Courts website: https://www.tncourts.gov/programs/probate-court).

2. Open probate (if required) and get the estate inventory.

   If the house was titled in your parent’s name alone, it generally must be handled through probate (unless a non-probate transfer applies). The executor or administrator files the necessary documents with the probate court and prepares an inventory of estate assets, including real estate. Tennessee’s probate statutes govern administration and distribution; you can review the Tennessee Code (Title 30: Probate and Administration) via the Tennessee General Assembly site: https://www.capitol.tn.gov/.

3. Get a current market valuation (appraisal).

   Obtain a professional appraisal or at least a broker price opinion so you and your siblings have a neutral baseline for the property’s fair market value. That valuation determines how much you must pay to buy out each co-heir’s share.

4. Identify liens, mortgages, and estate obligations.

   Confirm whether the property has a mortgage or other liens. The estate may need to pay debts or the mortgage may have to be refinanced in your name. If the estate owes creditors, sales or distributions may be impacted by the need to satisfy valid creditor claims under Tennessee probate procedures.

5. Negotiate a buyout agreement with your siblings.

   Most family buyouts occur by private agreement: you agree on a buyout price (for the entire property or for each heir’s fractional share), sign a purchase agreement or settlement agreement, and arrange payment (lump sum, promissory note, or mortgage refinance). Put the agreement in writing, state whether you will reimburse the estate for closing costs, and memorialize how title will be transferred.

6. Obtain any required probate-court approval.

   If the property is formally part of the estate, the executor or administrator generally must follow court rules before conveying estate real property. In many cases the personal representative can sell or transfer estate property with court approval or pursuant to authority in the will. If the transfer is part of a family settlement, probate courts often approve a settlement that is fair and protects creditors and beneficiaries. Ask the executor/administrator to submit the buyout/sale terms for court approval to avoid later challenges.

7. Finalize the transfer and record the deed.

   Once payment terms are met and any probate requirements met, the estate’s personal representative (or the siblings if they own the shares outright already) signs a deed transferring title to you — typically a warranty deed or quitclaim deed depending on circumstances. The deed must be notarized and recorded with the county Register of Deeds where the property sits. You must also ensure any mortgage is paid off or that you obtain refinancing if you’re taking over financing.

8. Address taxes and post-closing obligations.

   Consider property tax proration at closing, possible federal estate tax issues (rare for most estates), and Tennessee transfer or inheritance concerns (Tennessee does not currently have a state inheritance tax, but always confirm current law). Update homeowner’s insurance and utilities to your name.

9. What if siblings refuse to sell?

   If one or more co-heirs refuse a negotiated buyout, you may have options: (a) buy the other heirs’ shares by court-approved settlement; (b) file a partition action in chancery or circuit court to force sale or division of the property. Tennessee law permits partition suits when co-owners cannot agree. A partition by sale can lead to a forced sale and division of proceeds, so many heirs prefer to negotiate a private buyout rather than risk court-ordered sale.

Key practical points: You usually need (1) a clear understanding of title, (2) an appraisal, (3) an agreement with co-heirs, and (4) correct deed and recording steps. If the property is part of a probate estate, the personal representative’s authority and the probate court’s approval may be required before any transfer can be completed.

Official resources: For Tennessee probate statutes and official procedure, see the Tennessee Code and Tennessee Courts probate resources (Tennessee Code Title 30 covers probate and administration). General Tennessee Courts probate information: https://www.tncourts.gov/programs/probate-court. Tennessee legislative code and statute search: https://www.capitol.tn.gov/.

When to consult an attorney: If the estate is contested, has complicated creditor claims, includes a mortgage that must be assumed or refinanced, involves minor or incapacitated heirs, or siblings will not cooperate, consult a Tennessee probate or real estate attorney early. An attorney can prepare the buyout agreement, seek probate-court approval, draft or review deeds, and, if needed, handle partition litigation.

Disclaimer: This article explains general Tennessee procedures and is not legal advice. Laws change and every situation is unique. Consult a licensed Tennessee attorney about your specific facts before acting.

Helpful hints

• Start by getting the death certificate and locating the will (if any). The appointed executor or administrator is the key contact for estate property.
• Order a recent professional appraisal — a broker estimate is helpful, but a formal appraisal is stronger if siblings dispute value.
• Have the buyout terms in writing: price, payment schedule, who pays closing costs, and who signs the deed.
• Ask the executor to request court approval of any family settlement if the property is estate property — it reduces future risk of challenge.
• If you must finance the buyout, get a pre-approval so co-heirs know you are a serious buyer and can close promptly.
• Keep communications honest and documented; family disputes often escalate when conversations are only verbal.
• If a co-heir will not cooperate, learn the timeline and cost of a partition action in your county — sometimes negotiation plus a reasonable deadline encourages agreement.
• Confirm how title will be held after the buyout (sole ownership, tenancy in common, etc.) and consult a tax advisor about any income or capital gains implications.