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  #1  
Old 02-02-2003, 05:17 PM
sgp
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Unhappy

Sibling Keeping all the Profits !!!


What is the name of your state?
Pennsylvania

I am submitting a question, to find out if I have any legal recourse or not. It is my feeling that I probably do not,but
felt it was worth trying to find out for sure.
My situation is as follows:
My mother passed away some 6+ years ago. Her home was left to myself and my sibling.Before she passed during her illness, it was verbally agreed that my sibling would get Mothers home, and I would get the siblings condo, valued at
half the value of Mother's home.So I have the condo,all free and clear. At the time a fair deal.
Today, 6+ years later, my sibling is selling Mom's home
to buy another. However the property is not being sold
for market vlue. A company looking to buy up property,
is purchasing the property, for $125,000 more than the market value of the house.
My sibling is financially secure, I on the other hand am
struggling greatly financially, There has been no offer to
give me any of the profits he is making on our Mother's home. Am I legally entitled to anything?

Signed,
Deeply Hurt and Stressed
  #2  
Old 02-02-2003, 05:27 PM
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Join Date: Oct 2001
Location: california
Posts: 7,789
was your mom's home ever in your name?
  #3  
Old 02-02-2003, 05:33 PM
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Join Date: May 2000
Location: Catatonic State
Posts: 75,781
This thread has nothing to do with family law.
  #4  
Old 02-02-2003, 05:35 PM
sgp
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No my Moms house was never in my name. sgp)
  #5  
Old 02-02-2003, 05:37 PM
sgp
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I'm sorry if I have posted in the wrong place, but it was
rather difficult to figure out exactly where this post belonged.
Didn't mean to step on your toes!!
  #6  
Old 02-02-2003, 06:41 PM
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Location: california
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so what would be your evidence to show that you are entitled to half of the profits of the sale of the home?

I thought your agreement was that you got a free and clear condo and your sibling got mom's house. Am I mistaken?
  #7  
Old 02-02-2003, 09:52 PM
sgp
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Reply: to stephenk


It may very well be true that I have no entitlement to anything
legally. I posted this to possibly see if I do.

My Mothers home was to go to both of us. Since I couldn't afford
to live there, it was mutually decided that ,my sibling would reside there,thus buying me out. I in exchange got the siblings condo,which was approx. half the value of Moms home.
So you are right everything was even steven so to speak.
However when one decides to sell the property ,and get
125,000 profot, almost 2x the appraised value of the home.
It seems rather unfair to me that one sibling should prosper
so much,while the other struggles, on what was meant by my Mom to be evenly split. It seems to me, or shall I say, if it
were me in the other position I would offer some of the money to my sibling.
  #8  
Old 02-02-2003, 11:52 PM
zappy
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on what was meant by my Mom to be evenly split<<<<

It WAS evenly split 6 years ago, but just like the stock market, your sibling got a rising stock and yours floundered.

You could have kept the house and had roomates to help pay the bills, but you didnt want that kind of responsibilty, so you opted for a free and clear condo.

Yes your sibling should offer you some help since you are not doing too well, but legally they dont have to.
  #9  
Old 02-02-2003, 11:58 PM
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Join Date: Oct 2001
Location: california
Posts: 7,789
sorry, you dont have any legal standing to force your sibling to share in the profits. Just think, for the past six years you didnt have to pay rent or a mortgage. you didnt do that bad.
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