Skip to main content

Property Inheritance Conflict

My brother and I do not get along or should I say despise each other. My parents are getting old and I’m not sure what’s the best way to go about splitting up parents home that they want for the both of us to have.

While my parents are still alive, would it be wise to have my brother buy my portion out and he can keep the house now? My portion would be 500k, he would give me 200k upfront and owe me 300k w 3.5 interest for 30yrs.

Or should we do a living trust and only obtain our portions when my parents pass.

First option sounds nice to have liquid cash right now, but he would inherit my parents low property tax for that house and pretty much live in the house for dirt cheap while I have to pay so much property tax for my current house. It’s not fair that they keep the house while I have to go find another house and pay high interest rates plus property tax. Not to mention, him owing me 300k at 3.5% interest rate over 30 years when he inherits after 6-7 years. It’s not fair for him to keep the house? Unless we agree on a fair house value?

Does anyone have suggestions?

submitted by /u/Substantial-Guide-35
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/17qjcb2/property_inheritance_conflict/
Labels:

Comments

Post a Comment

Popular posts from this blog

North Carolina – “One to Buy; Two to Sell”

I realize I will likely have to contact a real estate attorney but also hoping to hear insights and experiences from others! I have a house in NC that I bought by myself in 2009, and paid off, in full, in 2022. I got married in 2023. My spouse and I have not lived in the house as our "marital residence". We have maintained separate residences even after we got married. (That a separate topic!). I am now selling this house. Realtors have told us that my husband has to sign the deed at time of transfer but I am not convinced since the house has not been our marital residence. The realtors like to use the phrase "one to buy; two to sell", which seems like a broad-stroke statement which is not applicable under all circumstances. And of course, the realtors don’t realize the details of my specific circumstances: I purchased and paid for the house in full prior to marriage Only my name is on the deed And most importantly, we have never lived in the house as a marit...
Post a Comment
Read more

Question With Tricon "Pending ID".....

My wife and i, along with 2 other peopl applied to rent a house, and our application says "Approved, Pending ID". Anyone else know what that means? Do we pretty much have the place or are we missing something? submitted by /u/Itskrueger [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1orixqj/question_with_tricon_pending_id/
Post a Comment
Read more

Making offers on houses not listed for sale.

I want to buy a home for retirement. I am looking at lots of options, mostly focusing on the locations that appeal to me. I see lots of Zillow estimates of homes that look like great deals to me. Are these estimates accurate, even though similar houses in the same area that are for sale are usually priced much higher? If so, is it realistic for me to try to make offers to owners that do not have their homes listed? Would a realtor even consider helping me do this? Or, do these values indicate that the houses listed for sale are overpriced, and I should just lowball until someone accepts? Are houses today tending to sell far below list prices, or ??? submitted by /u/chewybrian [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1o4mcon/making_offers_on_houses_not_listed_for_sale/
Post a Comment
Read more