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Old 09-28-2019, 08:30 PM
 
1,401 posts, read 2,107,933 times
Reputation: 997

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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.
Simple math. There are 4 of you who recognize that the oldest sisters request is unreasonable. Just tell the other 3 that if they are willing to cede their profits to help the eldest sister to achieve her quest to own the home, they are welcome to. However, the 4 of you are merely asking for their reasonable share of the value of the asset. Basically, the 4 of your are willing to accept $150K a piece and the other 3 plus your eldest sister can figure the rest out themselves (e.g. the other 3 are willing to hand over $150k to the eldest sister to help her pay a reasonable market price for the home) that would achieve the goal of keeping the house in the family, allowing the eldest sister/her daughter to own the house, allowing the 4 other sibs to get their fair share of the asset that they jointly own, allowing the 3 other sibs to help the eldest sister to attain her (and implicitly their) goals. If the additional $450K ceded by the 3 other sibs STILL is not enough to allow the oldest sister to purchase the house for a reasonable price, then the bottom line is that she is after an asset for which she simply can not afford, and just like the rest of us, she just has to deal with it.
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Old 09-28-2019, 10:09 PM
 
Location: Wisconsin
17,666 posts, read 17,928,203 times
Reputation: 43344
Quote:
Originally Posted by austinnerd View Post
Simple math. There are 4 of you who recognize that the oldest sisters request is unreasonable. Just tell the other 3 that if they are willing to cede their profits to help the eldest sister to achieve her quest to own the home, they are welcome to. However, the 4 of you are merely asking for their reasonable share of the value of the asset. Basically, the 4 of your are willing to accept $150K a piece and the other 3 plus your eldest sister can figure the rest out themselves (e.g. the other 3 are willing to hand over $150k to the eldest sister to help her pay a reasonable market price for the home) that would achieve the goal of keeping the house in the family, allowing the eldest sister/her daughter to own the house, allowing the 4 other sibs to get their fair share of the asset that they jointly own, allowing the 3 other sibs to help the eldest sister to attain her (and implicitly their) goals.

If the additional $450K ceded by the 3 other sibs STILL is not enough to allow the oldest sister to purchase the house for a reasonable price, then the bottom line is that she is after an asset for which she simply can not afford, and just like the rest of us, she just has to deal with it.
That is a very practical suggestion. Are you a mediator in real life? (You don't have to answer)

The bolded is especially important point. Sometimes a person may want specific things but it is just not a reasonable expectation to expect that you can afford everything that you want.
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Old 09-28-2019, 11:31 PM
 
857 posts, read 254,833 times
Reputation: 2976
Quote:
Originally Posted by Roadrun1 View Post
Yes and to keep it in the family
Road, "In the family" will mean something much different in the not-too-distant future. When you and your siblings are gone, then it's up to the "cousins" and even "second cousins" to figure this out, and believe me, few of them will consider the others as true "family" when they have kids of their own to worry about. While I have met almost all of my cousins at one time or another, I really don't know many second-cousins. We may be related via DNA, but I don't really consider most of them "family", and I'm sure they feel the same.

In your family, their only tie will be a shared set of great-grandparents on one side of their family. Your sister needs to come to her senses and either buy the home (maybe with the assistance of one or two siblings who are ambivalent or sympathetic to her cause) or agree to sell it on the open market.
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Old Yesterday, 01:40 AM
 
7,365 posts, read 4,066,157 times
Reputation: 15585
Quote:
Originally Posted by ImmerLernen View Post
I know it's only been 5 days since the OP first posted this debacle, but he's got 5 days' worth of reasonable advice here (and maybe some wild ideas!) so far. Why, OP, have you not contacted a real estate attorney yet? You don't need any of your siblings' permission to do that. Either do that forthwith or concede your position to some combination of your siblings' whims. Sigh...
They don't need a real estate attorney, at least not yet. They need an estate attorney; the problem is one of inheritance, will or no will, executor or no executor. They need to determine if the estate ever went through probate or if whatever was in the estate still exists or was looted. It may be that the only thing remaining is the house, which may not even be part of the estate if their are eight current deed holders. Only after the questions surrounding the estate are answered can the disposition of the house be addressed with a clear understanding of its history.
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Old Yesterday, 01:44 AM
 
7,365 posts, read 4,066,157 times
Reputation: 15585
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's two more than the law requires.
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Old Yesterday, 06:04 AM
 
Location: Cary, NC
34,064 posts, read 59,247,578 times
Reputation: 32999
Quote:
Originally Posted by kokonutty View Post
That's two more than the law requires.



And, those who believe the house is worth double what Sis wants to cough up?
Maybe they could join together and make a market value offer and force the issue?


That could help force the "executor's" hand.
"In the family," and at market value.
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Old Today, 03:43 AM
 
62 posts, read 12,988 times
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Quote:
Originally Posted by Taffee72 View Post
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.
It is also difficult because she is seen as the matriarch of the family. She knows everyone and respected by many.
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Old Today, 03:48 AM
 
Location: The Triad (NC)
29,217 posts, read 63,504,682 times
Reputation: 33609
Quote:
Originally Posted by Roadrun1 View Post
It is also difficult because she is seen as the matriarch of the family. She knows everyone and respected by many.
You seem to prefer to continue to go out of your way to NOT solve the problems.
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Old Today, 03:48 AM
 
62 posts, read 12,988 times
Reputation: 34
We are scheduling an appt to meet with an attorney but it is difficult to coordinate our schedule . Now there are only two of us that are willing to hire an attorney. The others chickened out.
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Old Today, 03:54 AM
 
62 posts, read 12,988 times
Reputation: 34
Quote:
Originally Posted by germaine2626 View Post
I was wondering that, too.

[ in).
My niece is well off . She will buy it in cash without a mortgage.
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