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Old Yesterday, 06:27 PM
 
44 posts, read 5,811 times
Reputation: 24

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Quote:
Originally Posted by ClaraC View Post
She doesn't have to sell. She can purchase the house from the heirs, which is all of you.

I am curious, though. This is the kind of stuff that causes rifts that never ever heal.

How much is your share - 1/8 of this house, worth? And is that worth wrecking the family?

Do you need the money?

We had a cantankerous estate distribution when a relative died, and that's what we came down to. Is it really worth fighting this one relative who was basically taking the estate - which wasn't worth a lot? We decided no, it wasn't worth the fight, and thanked God the relative didn't live to see her brother act this abhorrent way.
My share is $150k. I could use the money but it is not make or break for me. If I did not get any money I would be fine. I canít say the same for the rest of my brothers and sisters.
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Old Yesterday, 06:29 PM
 
44 posts, read 5,811 times
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Quote:
Originally Posted by jackmichigan View Post
Are there other assets from the estate which weren't distributed? If not, since the house was apparently deeded to you and your siblings prior to your parents' death, there isn't a need for an estate attorney or for removing your sister as the executor. You simply need a good real estate attorney to guide you through the process of getting the house sold. One owner can not prohibit a sale...but one can force a sale. Good luck.
Thanks.
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Old Yesterday, 06:31 PM
 
44 posts, read 5,811 times
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Quote:
Originally Posted by Rakin View Post



No probate, no judge, no will.
I like the sound of that
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Old Yesterday, 06:36 PM
 
44 posts, read 5,811 times
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Quote:
Originally Posted by Xelfer View Post
Why people allow this kind of stuff to happen is beyond me. Itís very likely sheís never going to speak with any of you again, and itís also very likely that if she railroads you all into selling to her daughter that the house will be resold shortly thereafter for a significantly higher price.

I would say that the narrative of this problem sounds fake but of course people do this all the timeóso Iíll change my words and say that it sounds pathetic and boring. Either do something or donít. Being scared that siblings will have a fit that youíre seeking out info on the internet borders on the ridiculous, but then again your family has allowed one person to jerk you all around for a decade and basically steal from you.
I wish my story was fake.it would make my life so much better. My brothers and sisters have been so close for many years. You shouldíve seen at our last gathering. We barely spoke to each other. It was pathetic.
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Old Yesterday, 06:39 PM
 
599 posts, read 608,434 times
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"Again, if her parents wanted to pay for her caregiving that is perfectly fine (even a good idea) but obviously they did not want to do that or they would have put it in writing (or deeded her a larger percentage of the house or something similar)."

You have no idea what her parents did or did not want to do. Perhaps they thought the other kids would recognize the sacrifice made by their sister. Or maybe they were too scared of getting into a scrap about "favoritism" with some of their other children, so they split it evenly because it meant they didn't have to deal with it. Seen that happen many, many, many times.

"How much caregiving did she do? $360,000 plus worth? And, $600,000 worth"

Firstly, the average cost of live-in home care is around $75,000 per annum, so it's quite possible that yes, she could easily have provided care to the equivalence of $360,000 or more. Not to mention the personal cost of the things that she maybe didn't get to do with her own life because she was caregiving for their parents. I'm curious, OP, for how long did she live with them, and did any of the other 7 siblings have an ongoing or significant role in their parents' care as they aged and died?

Secondly, she didn't live in it rent free after their death - she carried out maintenance and independently procured the money to pay for property taxes, insurance, etc, expenses that the other beneficiaries would otherwise have had to fund. If it really is already vested in all of their names, why weren't they then contributing to those expenses? She didn't pay cash rent, but there was definitely an exchange involved that they all apparently agreed to. Additionally, the average house in the US increased in value by close to 30% over the last 10 years. In some places, such as the Bay area, it's much closer to a 90% increase or more. The beneficiaries stand to potentially be in a much better financial position through having let her live in the house and selling it now than if the house had been sold when the parents first died.

Thirdly, there's no guarantee it would sell for $1.2m and even if it did, there are still all the costs involved in bringing it to and selling on the market - including the cost of evicting the current occupant, who appears to be a legal tenant. And good luck trying to sell it while it's occupied by someone who would clearly be hostile to the sale.

I do absolutely agree that the house needs to be appraised, I do think the current offer is probably too low, and I think it muddies the waters somewhat to have the niece being the one to buy, rather than the sister (I'm assuming that might be because the sister may not have sufficient income to qualify for financing in her own right?).

But all of those are things that can be worked through provided there's the will to be reasonable about it. A scorched earth approach, from either side, will leave everyone burned.
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Old Yesterday, 06:44 PM
 
44 posts, read 5,811 times
Reputation: 24
Quote:
Originally Posted by Cloudwalker View Post
. Is there someone with a cool head, perhaps a family friend who knew both your parents and their children, who can act as a mediator?

Has anyone in your family, aside from your sister, actually sat down and run the numbers on the two current possibilities?.



I'm wondering whether the house was placed in a living trust before your parents death, with your sister appointed as trustee? .



.
I donít know if our close family friend can assist but I will ask. This might be too personal for that person to get involved. Weíve had more than 20 meetings about this in the past year. We have given her the numbers several times . According to my brothers and sisters it is only a deed . No will or trusts . Thanks
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Old Yesterday, 07:03 PM
 
4,557 posts, read 8,559,457 times
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Quote:
Originally Posted by Roadrun1 View Post
Weíve had more than 20 meetings about this in the past year.
Good grief, just get a lawyer to push this along.
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Old Yesterday, 07:13 PM
 
Location: Wisconsin
17,622 posts, read 17,892,116 times
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Quote:
Originally Posted by Roadrun1 View Post
Weíve had more than 20 meetings about this in the past year.
Quote:
Originally Posted by 399083453 View Post
Good grief, just get a lawyer to push this along.
Twenty meetings?!?! and the eight of you can't agree? IMHO, you need to get professional help, at the very minimum a professional mediator, but probably an attorney.
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Old Yesterday, 07:17 PM
 
599 posts, read 608,434 times
Reputation: 1110
Thanks for your reply, and I really feel for you, OP. How miserable and stressful for all of you, including your sister.

If she won't voluntarily agree to getting an appraisal done, give her, as the tenant, the appropriate notice to enter to carry out an inspection and appraisal, and then see where your numbers end up. Until you have an appraisal or it goes to market, the best you have is an educated guess as to value.
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Old Yesterday, 07:22 PM
 
Location: San Francisco Bay Area
4,877 posts, read 2,658,447 times
Reputation: 9606
Quote:
Originally Posted by Roadrun1 View Post
My share is $150k. I could use the money but it is not make or break for me. If I did not get any money I would be fine. I canít say the same for the rest of my brothers and sisters.
How did you arrive at that $150,000 figure?
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