I'm sorry for your loss. Inheriting a property can involve various legal and financial processes. To get the money from the property, you have a few options:
Sell the property: If you and your sister both agree to sell the house, you can list it on the market and, once sold, divide the proceeds between yourselves according to the terms of your mother's will (if she had one) or the laws of intestate succession if there was no will. In this case, you'll typically receive your share of the money after the sale is completed.
Buyout: If your sister wishes to keep the house, she can buy your share from you. You both will need to agree on a fair price, and the necessary legal paperwork and financial transactions should be handled to transfer ownership and pay you the agreed-upon amount.
Refinance and Cash-Out: If your sister wants to continue living in the house and you agree to it, she might choose to refinance the property, taking out a mortgage that will allow her to pay you your share of the inheritance.
Rent or Share Ownership: Another option is for your sister to rent the property from you or share ownership, allowing you to receive a portion of the rental income or the property's value while she continues to live there.
Before proceeding, you should seek advice from a qualified attorney and possibly a financial advisor. They can help you understand the legal and tax implications of each option and guide you through the process of receiving your inheritance. It's essential to protect your interests and ensure that all necessary legal procedures are followed to avoid potential disputes in the future.