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Old 09-28-2019, 11:17 AM
 
6,895 posts, read 8,293,253 times
Reputation: 12050

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Quote:
Originally Posted by Roadrun1 View Post
I spoke with my brothers and sisters. Only 3 are willing to hire a lawyer. The rest are undecided.
You should at least consult with a good real estate lawyer so that you would know the process involved and the likely timeline. Once you know those details, it may be an easier decision for all. Capitulating to your one sister will not serve anyone's interests. You'll just go through life resenting your sister's actions and it will be a continued strain on your family. It doesn't even sound like she and her daughter will be able to afford keeping the house if they need to pay a mortgage. Then it will likely just be sold for a huge profit, further alienating all involved.

If your family does eventually capitulate to your sister's unreasonable demands (not a wise decision), you should at least have each secure mortgages for the 1/2 of the house's value and allow your sister's daughter to get a first mortgage for the other 1/2 value. Your siblings could individually decide not to collect on their share of those mortgages, however in the event of a subsequent sale--which sounds very likely--they could at least profit from that sale and not be further angered by your sister's actions. Yes, that's a bit complicated and will require some legal guidance, but you need legal guidance anyway. If you forgo that, I guess your family deserves its fate. Good luck.
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Old 09-28-2019, 11:19 AM
 
1,180 posts, read 321,189 times
Reputation: 2085
Quote:
Originally Posted by dontaskwhy View Post
Unfortunately, the ones who are undecided need to cash a reality check ASAP before things get real ugly. I guarantee it will sooner or later. You can speak with an attorney with your siblings who agree with you and the attorney can contact the undecided siblings independently. Do what is right for you and your siblings. Sometimes we all have to hold our nose when dealing with unpleasant situations.

Once someone breaks the log jam, others may follow suit.
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Old 09-28-2019, 11:21 AM
 
Location: Western Washington
9,458 posts, read 8,709,629 times
Reputation: 16303
Quote:
Originally Posted by Roadrun1 View Post
I spoke with my brothers and sisters. Only 3 are willing to hire a lawyer. The rest are undecided.
That is great news! Congratulations. Hire a lawyer with the three who agree with you. The others can simply sit by the side and watch it all happen, but they will not be protected by legal advice.

You can force the sale for market price, resulting in getting the cash and ending this stalemate that is not doing your family any good. It is as toxic as forcing a sale, perhaps more so because it will never end.
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Old 09-28-2019, 11:52 AM
 
Location: Wisconsin
17,661 posts, read 17,928,203 times
Reputation: 43314
Quote:
Originally Posted by GotHereQuickAsICould View Post
If the OP's sister and daughter have to take in tenants to pay the taxes and insurance, how the hell are they going to keep up with payments on a $600K mortgage?
I was wondering that, too.

Quote:
Originally Posted by jackmichigan View Post
You should at least consult with a good real estate lawyer so that you would know the process involved and the likely timeline. Once you know those details, it may be an easier decision for all. Capitulating to your one sister will not serve anyone's interests. You'll just go through life resenting your sister's actions and it will be a continued strain on your family. It doesn't even sound like she and her daughter will be able to afford keeping the house if they need to pay a mortgage. Then it will likely just be sold for a huge profit, further alienating all involved.

If your family does eventually capitulate to your sister's unreasonable demands (not a wise decision), you should at least have each secure mortgages for the 1/2 of the house's value and allow your sister's daughter to get a first mortgage for the other 1/2 value. Your siblings could individually decide not to collect on their share of those mortgages, however in the event of a subsequent sale--which sounds very likely--they could at least profit from that sale and not be further angered by your sister's actions. Yes, that's a bit complicated and will require some legal guidance, but you need legal guidance anyway. If you forgo that, I guess your family deserves its fate. Good luck.
Those are great points.

I am confident that very soon after receiving the house at a bargain price the daughter will sell it for full price and keep 100% of the profits.
All the siblings who were conned into selling her the house at a greatly, greatly reduced price to "keep it in the family" will be even more upset and feel even more cheated. I have personally seen that happen.

The four of you who want to go to an attorney should do that. You can always report your findings to the other three (and I bet that they will join in).

Last edited by germaine2626; 09-28-2019 at 12:28 PM..
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Old 09-28-2019, 12:11 PM
 
6,895 posts, read 8,293,253 times
Reputation: 12050
Quote:
Originally Posted by germaine2626 View Post
I was wondering that, too.



Those are great points.

I am confident that very soon after receiving the house at a bargain price the daughter will sell it for full price and keep 100% of the profits.
All the siblings who were conned into selling her the house at a greatly, greatly reduced price to "keep it in the family" will be even more upset and feel even more cheated. I have personally seen that happen.

The four of you who want to go to an attorney should do that. You can always report your findings to the other three (and I bet that they will join in).
Yep. I smell a con job.
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Old 09-28-2019, 12:39 PM
 
Location: Worcester MA
2,002 posts, read 382,869 times
Reputation: 2417
OP, please stop dilly-dallying and just go ahead and hire a lawyer. You already know things will be unpleasant. Just brace yourself for that fact and get what your parents left for you and your other siblings, not just the eldest.
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Old 09-28-2019, 03:41 PM
 
4,962 posts, read 4,223,489 times
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I doubt a traditional homeowners policy covers tenants & any liability for their actions. If a tenant (or anyone else) becomes injured on the property, the owners have the liability. Do your siblings realize that?
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Old 09-28-2019, 05:18 PM
 
Location: Haiku
5,040 posts, read 2,838,256 times
Reputation: 7363
This is an ethics issue, not really real estate.

It is a no-win situation. If you accede to her request you will all resent her forever. If you don't, she will resent you forever. So before you lawyer up, you need to decide which flavor of acrimony you are ready for and what kind of relationship with her you want.

Personally, she does not sound like someone with a lot of ethics and I would probably get a lawyer and make her honor the will and sell the house through a realtor. If she can come up with the money, fine, she gets it.
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Old 09-28-2019, 06:18 PM
 
1,255 posts, read 708,470 times
Reputation: 4439
There are 8 siblings, 4 of whom would agree to speaking to a lawyer. Three are undecided with, of course, leaving out the one sister who is always going to be the holdout for her daughter’s profit (ulterior motive).

Four to three is a majority. Hire the lawyer with the 4 of you and get advice. When you take this step, the others may also become curious and join in. Some people just don’t want to be seen as the initiator. Let the sister know in advance that a lawyer is being hired so correct and competent information will be obtained.

Good luck as this tippy toeing around is creating a worse scenario. The elder sister may acquiesce when she realizes she and her daughter will have to pay up. She has no written basis to insist your parents wanted the house kept in the family but it’s a mighty convenient argument for her daughter’s benefit.

If she wanted the house so much for “memories”, she and her daughter should have saved up over the past 10 years and offered a reasonable amount for it. Otherwise, they can’t afford it anyway.

I am in an extended family where a house was deeded over to one sibling while a parent was still living, excluding the others. There are sometimes good reasons for this and the other sibs had no problem with that decision. But the OP’s situation is very different.
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Old 09-28-2019, 07:07 PM
 
39,254 posts, read 15,546,040 times
Reputation: 25649
If the folks had wanted the house to "stay in the family" they could have set up a trust.

They did not. Instead they put the names of their 8 children on the deed, a clear directive that they wanted to leave 1/8 of the home to each child.

That you all have let this drag on for 10 years to give your oldest sister time to get her ducks in a row is commendable. But that time is coming to an end for some of you.

Four of you will be consulting an attorney to figure out how to resolve this matter.

One of the things you may want to discuss is what happens if your sister drops the insurance on the house while you working to get this straightened out.

I'm still at a loss as to how they will be able to cover the $3K/month payments on a a $600K mortgage when they have to take in tenants to cover the taxes and insurance.
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