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Who is right?

Anonymous
Posted by Anonymous
  • 33 Replies
I'm not going to say who's side is who's right now but there is a situation and it needs some resolution.

Scenario

A brother and sister inherit a house from their deceased mother. Sister wants to live in said house until she moves to another country for her job. The only problem is the time frame is up in the air. It could mean she leaves in 6 month, a year, 3 years or maybe never. Sister has no children.

Brother would like to either A Sell said house and split profit. B sister could buy brother out and sell house whenever she's ready or C sister could pay brother a small monthly rent for his portion of the house. D Brother and family move into house and fix it up (very old and run down. Worth about 50,000 dollars TOPS) Then sell and split profits to make more money for them both.

Sister does not agree on those terms and would like to live in the house till she moves and at that time let brother sell it. Brother feels that's not right since he would be doing all the work.

What is the correct course of action here?
Posted by Anonymous on Feb. 15, 2017 at 12:01 AM
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Replies (1-10):
CaliBear8405
by Silver Member on Feb. 15, 2017 at 12:05 AM
I would just sell it and split the cash. It could be faster and less complicated.
Anonymous
by Anonymous 1 - Original Poster on Feb. 15, 2017 at 12:06 AM
Sister doesn't want to sell. Would you force it and potentially cause a rift?

Quoting CaliBear8405: I would just sell it and split the cash. It could be faster and less complicated.
Anonymous
by Anonymous 2 on Feb. 15, 2017 at 12:07 AM
1 mom liked this
Brother is 100 percent right. He shouldn't have to wait and be financially entangled with sister for months or years because she is too lazy to find a rental.
iwicked
by Sugar Magnolia on Feb. 15, 2017 at 12:08 AM
I would sell and split the money. If it causes a rift so be it. In each situation, someone won't be happy.
CaliBear8405
by Silver Member on Feb. 15, 2017 at 12:08 AM
Sorry, I would say tough. Why am I going to be out to accommodate the sister? Just sell it and be done with it.

Quoting Anonymous 1: Sister doesn't want to sell. Would you force it and potentially cause a rift?

Quoting CaliBear8405: I would just sell it and split the cash. It could be faster and less complicated.
Anonymous
by Anonymous 1 - Original Poster on Feb. 15, 2017 at 12:10 AM
My DH is the brother. Basically my SIL wants us to use our money to fix up the house, while she lives in it and then split profits with her when she's ready to sell though we've put all of the money into it.

Quoting CaliBear8405: Sorry, I would say tough. Why am I going to be out to accommodate the sister? Just sell it and be done with it.

Quoting Anonymous 1: Sister doesn't want to sell. Would you force it and potentially cause a rift?

Quoting CaliBear8405: I would just sell it and split the cash. It could be faster and less complicated.
bluebunnybabe
by kid crack dealer on Feb. 15, 2017 at 12:10 AM
SELL THE HOUSE!!! I know a brother & sister who were in the same situation & they both ended up feeling screwed & don't speak to each other anymore.
angkorsaway
by Gold Member on Feb. 15, 2017 at 12:12 AM

Hmmm, is the market hot where they are? I'd sell as it makes the most sense to split the money. If sister doesn't know when she'll move, that is kind of a problem. If the market is slow, then hang onto the house, fix it up and do the pay rent thing. Wait, the house is worth 50K?

Anonymous
by Anonymous 1 - Original Poster on Feb. 15, 2017 at 12:13 AM
DH is so torn. On one hand the money from the selling of the house could put a larger down payment on a home for us but on the other hand it's his sister and we're stuck waiting on her. The house isn't worth much at all. Maybe 50K because it's so ran down.
Anonymous
by Anonymous 1 - Original Poster on Feb. 15, 2017 at 12:14 AM
Yes. We had hoped to put 40K worth of work into it making it worth around 175 in the current neighborhood

Quoting angkorsaway:

Hmmm, is the market hot where they are? I'd sell as it makes the most sense to split the money. If sister doesn't know when she'll move, that is kind of a problem. If the market is slow, then hang onto the house, fix it up and do the pay rent thing. Wait, the house is worth 50K?

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