Family feud over real estate (definition, penalty, sell, rich)

[Xelfer]

We are veering back into “this post is fake” territory again.

[germaine2626]

Originally Posted by Roadrun1

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

So all the siblings allowed mom to live in the house rent free for ten years with tenants paying for the taxes because she was so poor and her daughter can spend $600,000 cash on a house? What is wrong with this picture????

Originally Posted by Ken_N

So the niece could buy everyone out?

Originally Posted by City Guy997S

So whats the problem?

Get it appraised and tell her the price is $_________.

Originally Posted by jjrose

If the niece can afford $600k cash she can get a mortgage for the full $1.2M. She is trying to get a very steep discount at your expense.

OP, this is important. Read it again.

Originally Posted by jjrose

If the niece can afford $600k cash she can get a mortgage for the full $1.2M. She is trying to get a very steep discount at your expense.

Your niece is trying to cheat all of her aunts and uncles out of their inheritance from your parents. Sheesh! What a money grubbing, family-hating, jerk!

[Northrick]

Originally Posted by Roadrun1

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

If true, it should be apparent now why your niece is well off.

[Roadrun1]

Originally Posted by Ken_N

So the niece could buy everyone out?

Exactly what we said too. My niece has nice cars , house , and goes on many vacations. When it comes to this i don’t know why she is acting broke.

[Roadrun1]

Originally Posted by Xelfer

We are veering back into “this post is fake” territory again.

Like I said before I wish it was fake. Believe what you want to believe.

[Roadrun1]

Originally Posted by germaine2626

:

Your niece is trying to cheat all of her aunts and uncles out of their inheritance from your parents. Sheesh! What a money grubbing, family-hating, jerk!

Yes, very greedy.

[GotHereQuickAsICould]

Originally Posted by germaine2626

So all the siblings allowed mom to live in the house rent free for ten years with tenants paying for the taxes because she was so poor and her daughter can spend $600,000 cash on a house? What is wrong with this picture????






OP, this is important. Read it again.

Your niece is trying to cheat all of her aunts and uncles out of their inheritance from your parents. Sheesh! What a money grubbing, family-hating, jerk!

I agree.

She can put down the $600K and finance the rest.

Problem solved.

[GotHereQuickAsICould]

Originally Posted by Roadrun1

Exactly what we said too. My niece has nice cars , house , and goes on many vacations. When it comes to this i don’t know why she is acting broke.

Because that's what people with money do. They often cheat others.

[fishbrains]

Originally Posted by Roadrun1

Exactly what we said too. My niece has nice cars , house , and goes on many vacations. When it comes to this i don’t know why she is acting broke.

Because she wants you, and all of your siblings, to give her $75,000.

Grow a spine and lawyer up.

[kokonutty]

Get the house appraised. Twice! Average the values if they are within 5% and use that as the price. If they are farther apart get a third and average the two that are closest; toss out the other. Tell the niece that is the price. Some of her aunts and uncles may care to give a discount to "keep the house in the family." Any sibling that cares to gift the niece any or all of their share may do so on their own and deal with the tax consequences themselves. Her mother, of course, would be expected to take no money from her daughter as she has been so generous with everyone else's money, but that's her call.

And find out about the rest of the estate and how the resident sister has proclaimed herself executor if there never was a will, you may all be facing IRS penalties for waiting so long.