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Home and Garden
Buying your parents/in-laws’ house
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[QUOTE="Watchdog, post: 3869658, member: 10325"] It would be easy to say don't worry about the sister you don't like and her husband, but that can come back to haunt you. Be open and get things in writing or at some point in the future there could be family and legal problems. My parternal grandmother handled something similar many years ago. She had three kids and when she decided to divest herself of the family farm she wanted each of her kids to receive a third of the value but didn't want to split it into three parcels and complicate the whole process. Her solution was to first establish a value for the land and then ask my Dad to pay 1/3 of the value to my aunt and 1/3 to my uncle and my Dad would get his 1/3 for "free". All was good until about 25 years later when my Dad received an unsolicited offer for the land and my uncle sued him to get some of that money even though he was fairly compensated and my Dad had paid taxes on the land and maintained it all those years on his own. My Dad won the case but it cost him and my uncle unnecessary legal fees. The irony was my Dad had been working with his attorney on how best to share some of the proceeds with his brother and sister but after the suit my uncle got nothing. [/QUOTE]
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