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I have four brothers and 3 sisters. I’m the youngest in the family. My mother and father passed away 10 years ago. My eldest sister has been living in our parents house
rent free for the past 10 years . My parents left a will that equally divided the house to each surviving child. My eldest sister is emotionally attached to the house and she does not want it sold. After years of drama my eldest sister has finally agreed to sell the house but not at market value. She wants to sell the house to her daughter at a huge discount so that the property stays in the family . She is forcing everyone to sell this property to her daughter. What would you do?
That is a tough one. Plenty of emotions involved. One way of looking at it is that your eldest sister is making a decision for all of you. Is everyone ok with that? If so, then the consensus would be to wash your hands and move on. She may feel entitled because she has been living there. "It's hers to do what she wants." I am just guessing her sentiment there. Just one viewpoint.
Hell no. Lawyer up and get your fair share of the full market value. What is your niece’s plan? Will she sell the house down the road at a big discount too? I doubt it. Your sister, through your niece, will end up with access to a large sum of money that should have rightfully been split between you and your siblings. Or at the least, her family will be set up financially by that house whereas your family, and those of your other siblings, will not. I would say if your siblings have no interest in the house, but you do, either they need to give you your share of the full retail value or you all find a way for you to be on the deed for the house, without having a fiscal responsibility. If that’s possible anyway. That way your financial interest is protected.
I know when I went through probate when my mother died, my siblings had to sign some Waiver and Refunding Bond Release in order to waive their inheritance. If your siblings don’t want their inheritance, make sure they legally waive their rights. Otherwise they could come back later to assert a right they verbally renege now.
how did property taxes get paid? who paid for repairs and upkeep for 10 years?
what's an approximate rental value per month she's been there?
where does this eldest sister rank approximately in income/wealth among the 8 of you? How much would the value of the home, sold, mean to the lowest? The highest?
If your parents have been deceased for 10 years, in whose name is the house in right now? All 8 of you? Get two appraisals, average them, that’s your sales price. If oldest sister wants to give her 1/8 share to her daughter, she can go ahead. Everybody else gets their own share. Slightest bit of trouble..lawyer time. Your parents did NOT want their granddaughter to get a sweetheart deal. If they had, it would have been in their will.
If your parents have been deceased for 10 years, in whose name is the house in right now? All 8 of you? Get two appraisals, average them, that’s your sales price. If oldest sister wants to give her 1/8 share to her daughter, she can go ahead. Everybody else gets their own share. Slightest bit of trouble..lawyer time.
Your parents did NOT want their granddaughter to get a sweetheart deal. If they had, it would have been in their will.
And, I bet with eight siblings there is more than one grandchild (or may be more than one grandchild in the future if the rest of you are very young). If you give in to the oldest sister's demands then that is denying your children a fair share of their grandparent's estate. I doubt if your parents intended that to happen.
I agree, if your parents wanted this specific grandchild to inherit the house (or get for a very cheap price) they would have written it that way in their will.
Last edited by germaine2626; 09-22-2019 at 08:02 PM..
If all eight of you are on the deed as joint tenants your sister can't force you to sell the house. All of you must sign to transfer the house to a new owner. If you all can't agree on something then it is time to consult a lawyer. I had this problem when my mother-in-law passed away. One of my wife's brothers caused trouble but we finally go him to concede to our terms.
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