Am being swindled out of my Property Inheritance

[riggo199]

What is the name of your state? Minnesota

I really need some advice. My grandfather deeded a cabin to my 3 siblings, and my Mother in 1994. (He died in 2001). My Mother has had exclusive rights to this cabin since it was deeded over. She has all along told me that the cabin should be hers, and I should Quit Claim it to her because she uses it, and has paid the taxes on it. (She refuses to let my siblings use the cabin w/out her being there).

She is now threatening to sell it, and claims she can because I have done nothing to help with upkeep. (I live in Texas). Does she have any legal recourse? If I don't QC my share to her, she is going to send me a tax bill...which, I can't pay...and do not want to pay taxes on a cabin I never use! What should I do?

ps. my siblings may sign their share to her, b/c they want to keep family-peace. My mother is nasty, and I could care less if there is peace. thanks for reading this!!!!

 

[FarmerJ]

If you refuse to sign your Interest over to her she may have to file a court action to force the issue . Just out of curiousity what would your share of the property taxes and insurance on the house be ? Also what would your share be if she had to buy you out ? The property tax assessors in that county could tell you how much the taxes are and also what its value is for tax purposes .

 

[riggo199]

My share of the taxes would be about $400 per year.

My share of the property is 25%. I believe the assessed value is about $120K.

Thanks.

 

[FarmerJ]

Verify that amount with the county and next time it comes up tell her to make you a offer in writting to buy you out .

 

[HomeGuru]

My share of the taxes would be about $400 per year.

My share of the property is 25%. I believe the assessed value is about $120K.

Thanks.

**A: If the property has no mortgage, think of your tax payment as an investment of only $400 per year for a share of $30K of real estate.

 

[riggo199]

My Mom has told me informed me that this property is all hers....and that I will get nothing....no money. She claims her father should have left it to her...his daughter...instead of his grandchildren. This is why I do not want to pay one dime for taxes. She has a very high-profile career, and knows a lot of people --attorneys, accountants, etc......so, I wanted to know if there was a way that she could sell this property, and somehow take my 25%.


Thanks.

 

[FarmerJ]

Do you have or can you get a copy of that will ? Also like i said she can force you into sale but she will have to file suit to do so . One way to keep tabs on that cabins owner ship records is by staying in contact with the property tax assessors office in the county the cabin is located in . Then You can allways find out even if its after the fact if she has done anything . As far as the other kids they can do what they want But if it comes down to her filing any court action Most Judges might want to know if she ever offered to buy you out . ( that property If the county says its worth 120k fair odds are on the real estate market it can sell for 140k or more especially if its on a lake in one of the countys that are with in 100 miles of the twin cities metro area or brainerd lakes area . She can say all she wants but If she really wants to be the ogre queen of the north she can do so after she pays you your share to buy you out .

 

[HomeGuru]

My Mom has told me informed me that this property is all hers....and that I will get nothing....no money. She claims her father should have left it to her...his daughter...instead of his grandchildren. This is why I do not want to pay one dime for taxes. She has a very high-profile career, and knows a lot of people --attorneys, accountants, etc......so, I wanted to know if there was a way that she could sell this property, and somehow take my 25%.


Thanks.

**A: in your initial post you stated that my grandfather deeded a cabin to my 3 siblings and my mother in 1994.
If you are not on title, you have no interest in the property period.

 

[riggo199]

FarmerJ: thank you so very much for all your help! I really appreciate it!


HomeGuru: My name IS on the title. I just got a copy from Ottertail County Courthouse (where the property is located). Like I stated in my previous post, there are 4 names on the title.

 

[HomeGuru]

FarmerJ: thank you so very much for all your help! I really appreciate it!


HomeGuru: My name IS on the title. I just got a copy from Ottertail County Courthouse (where the property is located). Like I stated in my previous post, there are 4 names on the title.

**A: then since you are on title, there is no way that your Mom can sell the property without your consent or adjudication from the Court in a partition lawsuit.

 

[riggo199]

Would there be any tax benefits to leaving a property to 4 people instead of 1 person?

My Mother is claiming the only reason my grandfather put 4 names on this property was for tax purposes. I am just wondering what those purposes would be (since the 3 children could NOT have paid yearly taxes, due to their financial situations).

Thanks again.


ps. the property has no mortgage on it.

 

[HomeGuru]

Post your tax question on the Tax Law board.