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Old 11-17-2017, 01:01 AM
 
18,561 posts, read 7,375,874 times
Reputation: 11376

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Quote:
Originally Posted by mike1003 View Post
Does this property have a name? If not, I suggest that you name it "INFLATED EGO ESTATES"
What is wrong with you people?
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Old 11-17-2017, 06:06 AM
 
Location: Florida
7,246 posts, read 7,079,089 times
Reputation: 17828
Quote:
Originally Posted by hbdwihdh378y9 View Post
What is wrong with you people?
"But who knows; maybe some of them or their children turn out to be losers and may eventually want to touch this property. Therefore, I need a way beyond moral persuasion to control this property permanently."


Do you really not see how terrible the OP is being?
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Old 11-17-2017, 06:31 AM
 
15,439 posts, read 7,497,910 times
Reputation: 19365
Quote:
Originally Posted by rhbj03 View Post
I understand and agree with the goal of the Rule Against Perpetuities -- if we let dead people control the present and the future, America would still be living the 18th century in many ways.



So, what ways are there to hold a property for the whole clan permanently, so it is owned by or for the benefit of the whole clan, but no one can demand to take away or sell their interest?

A few directions in which I am searching for inspiration:

-- How are cemetery lands able to be kept forever?

-- How are those old English manor properties, or some of the kept in the family for so long?
?
Cemetery land is usually controlled by state law

Most of the English country houses were given to the National Trust because death taxes were so onerous they ate up the entire estate. Very few of them are in the hands of the original family, and hundreds were demolished in the 20th Century.

Unless you are ultra wealthy and can endow a foundation to own the property, with family members having the right to use it, you are wasting your time. Go see an attorney for more details.
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Old 11-17-2017, 06:40 AM
 
2,951 posts, read 2,519,662 times
Reputation: 5292
Quote:
Originally Posted by kab0906 View Post
"But who knows; maybe some of them or their children turn out to be losers and may eventually want to touch this property. Therefore, I need a way beyond moral persuasion to control this property permanently."


Do you really not see how terrible the OP is being?

And never mind he is using the rules against perpetuity incorrectly. LOL

Agree with the person who says seeks mental health. They can teach you to relax and let go of material things.

Times change, how do you know thye'd even want this old house, just cause you think its special. It becomes OLD and no one wants to pay to keep it up.

If you have lots of money, put it in a trust to take care of the upkeep. Expecting nothing from your family.

Keeping in mind, if your heir don't want to visit it or use it, you can't make them from afar.
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Old 11-17-2017, 07:11 AM
 
Location: NC
9,361 posts, read 14,111,535 times
Reputation: 20914
I don't see anything wrong with this poster. He owns this property and this is his wish. His heirs are not "owed" anything.

The person who suggested starting a foundation that will take care of the property gave good advice. I would also suggest having an exit strategy for the situation in the future where either the foundation runs out of money for upkeep or not one of the lineage of heirs makes a physical visit in a designated period of time.

Maybe he could also create a family cemetery for those who wish to be buried there like they did in the old days. Not sure how that works though.
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Old 11-17-2017, 07:31 AM
 
1,092 posts, read 1,148,798 times
Reputation: 2188
The OP needs to also consider that he is handing over a perpetual property tax liability to his descendants. If he doesn't set aside assets to fund the taxes in perpetuity, its going to become an issue in the future. The only certainties are that not all of his descendants will want to split this bill in an equitable way (nor should they want to) and that this will create conflict.

I think his best bet is to deed a small lot with the actual building to a single descendant that is most likely to honor his wishes. The surrounding property should be given to a land conservancy that specifies allowable uses for his descendants. Also, realize that not all land conservancy's require that land return to a natural state. I've heard of some that allow the land to be conserved for its original use (such as farming with a $1 annual 99 year lease to the desired party).
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Old 11-17-2017, 07:46 AM
 
Location: Vermont
11,761 posts, read 14,656,809 times
Reputation: 18529
When I was in law school my classmates were fond of talking about the California case that allegedly held that the Rule Against Perpetuities is so complicated that it isn't malpractice for a lawyer not to understand it. (Needless to say, that is not actually what the case says.)


In fact, it is not that complicated: whatever the situation is, look for the measuring life. (That's why the Rule Against Perpetuities problem in the movie Body Heat was really not a problem.)


In this case you're getting some varying and conflicting advice, including a bunch of unsolicited psychological and moral advice and judgment. Like interpretations of the Rule itself, you're making it too complicated. Go to a lawyer, explain what you want, and do what he or she says.
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Old 11-17-2017, 08:23 AM
 
Location: Rochester, WA
14,488 posts, read 12,121,454 times
Reputation: 39074
Quote:
Originally Posted by luv4horses View Post
I don't see anything wrong with this poster. He owns this property and this is his wish. His heirs are not "owed" anything.
His heirs are not owed anything.... but neither do they owe him anything. And this is the crux of the matter. In this scenario, they will be given a gift that isn't really a gift. It's really a liability they can't sell or do what they'd like with. They can only go there, and visit the family portraits.

Quote:
The person who suggested starting a foundation that will take care of the property gave good advice. I would also suggest having an exit strategy for the situation in the future where either the foundation runs out of money for upkeep or not one of the lineage of heirs makes a physical visit in a designated period of time.
Great, a foundation that would eat up much of the rest of the estate, managing a property that can't be sold until it has been abandoned by all for some number of years.

OP - if you don't think your family 'needs' this gift, you don't have to give it to them. But I would recommend deciding who you DO want to give it to, and then actually give it. Trying to micromanage from the grave is a mistake.
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Old 11-17-2017, 08:54 AM
 
10,135 posts, read 27,480,869 times
Reputation: 8400
I told the doofus how to do it. I'd prefer he just say thank you and move on.
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Old 11-17-2017, 09:14 AM
 
6,039 posts, read 6,056,289 times
Reputation: 16753
Quote:
Originally Posted by Diana Holbrook View Post
His heirs are not owed anything.... but neither do they owe him anything. And this is the crux of the matter. In this scenario, they will be given a gift that isn't really a gift. It's really a liability they can't sell or do what they'd like with. They can only go there, and visit the family portraits.
The bolded, above.

Emotional considerations notwithstanding, I have less than zero desire to hold onto items that are a liability and bring me no benefit.
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