when a sibling renounces rights to parents property such as homes and autos,does half of equity go to them

Question

when a sibling renounces rights to parents property such as homes and autos,

does half of equity go to them

Answer

Your posting is a bit confusing. I assume by renounces, you mean disclaims. When one formally disclaims an inheritance, they are giving up all rights to the inheritance from that estate. In that case they would not get the uquity interest of any of the property of that estate.

Sometimes, a person dies.owing money on a note, mortgage, or deed of trust, on rel estate or an automobile. In that case, they can't pass clear title to any of their heirs or devisees. If the one to receive that item properly disclaims as to that item, the equity interest would not pass to them, although they might still get other property from the estate. This is most common where just one child of a decedent is to get the decedents equity in a home, and the other siblings get a disproportionate amount of other property to somewhat balance the value that each recieves from their patent's estate.

This is a very generalized description of inheritanceship, based upon the few facts you provided. You should consult directly with a probate attorney, in your area, before deciding what to do in your specific situation.

Good luck