Sister Wants Our Parent's House

[Ron1347]

What is the name of your state?What is the name of your state? Michigan

Parents, sister, and I, were talking this situation over a couple of days ago. The standard I suppose would be, when our parent's time comes, for sister and I to sell our parent's home and divide the sale equally.

However...my sister has decided that she would like to have our parent's house for herself, to live in, as 'her' part of the inheritance. She would not have half of the house value to give me in 'cash', for 'my' part of it. There will be no 'money' inheritance that she could just turn over to me in place of the value of the house.

How should we go about handling this? Should something be done 'now' to settle this? And if so...then 'what'?

Thank you very much for any help you provide!

 

[BelizeBreeze]

What is the name of your state?What is the name of your state? Michigan

Parents, sister, and I, were talking this situation over a couple of days ago. The standard I suppose would be, when our parent's time comes, for sister and I to sell our parent's home and divide the sale equally.

However...my sister has decided that she would like to have our parent's house for herself, to live in, as 'her' part of the inheritance. She would not have half of the house value to give me in 'cash', for 'my' part of it. There will be no 'money' inheritance that she could just turn over to me in place of the value of the house.

How should we go about handling this? Should something be done 'now' to settle this? And if so...then 'what'?

Thank you very much for any help you provide!

First the good news:
There isn't any.

Now, the bad news:
Since your parents are still living they can do whateverthehell they want with "Their" home, including selling it or giving it to your sister, selling it to a third party and, with the proper permits, allow it to be used for fire department 'training'.

You have no legal or inherent right to an inheritance nor do you have any rights to the home.

 

[Ron1347]

Perhaps you misunderstand. Or...perhaps it is 'I' that misunderstands your reply.

There is no arguement between any of us. The house is to be shared between my sister and I upon our parent's death. This is my parent's decision it be this way. It is just that, I have no use for a second house. My sister will need a home of her own to live in at the time we do lose our parents. I want her to have the home itself, but want my share of the appraised value. My sister wants me to have my share of the appraised value. My parents want me to have my share of the appraised value.

My sister would have no cash of her own in order to pay me my share of the house appraised value. Somehow she would have to come up with a way to get my share of the appraised value. She has no credit...or...she has very poor credit, and I'm quite certain she wouldn't be able to 'borrow' to come up with it.

Is there another route that can be taken, so that sister gets the house, and I get my half of its value? Sister doing 'payments' to me, would be out of the question!

I hope I am being clear. This is all new to me.

 

[BelizeBreeze]

Perhaps you misunderstand. Or...perhaps it is 'I' that misunderstands your reply.

There is no arguement between any of us. The house is to be shared between my sister and I upon our parent's death. This is my parent's decision it be this way. It is just that, I have no use for a second house. My sister will need a home of her own to live in at the time we do lose our parents. I want her to have the home itself, but want my share of the appraised value. My sister wants me to have my share of the appraised value. My parents want me to have my share of the appraised value.

My sister would have no cash of her own in order to pay me my share of the house appraised value. Somehow she would have to come up with a way to get my share of the appraised value. She has no credit...or...she has very poor credit, and I'm quite certain she wouldn't be able to 'borrow' to come up with it.

Is there another route that can be taken, so that sister gets the house, and I get my half of its value? Sister doing 'payments' to me, would be out of the question!

I hope I am being clear. This is all new to me.

If your sister doesn't have the money to pay you for your half once your parents die then she has only two options, refinance or partition.

Either way, you get your money.

Otherwise, you own a second home.

 

[Ron1347]

Thank you very much. Your time and patience is most appreciated!

By the way...how have you been? I know you don't remember me but, you had also given me much advice, along with others, some time back, on the child custody forum. I haven't been here in a while now. Hope you and others have been well. You're a great group of people!

 

[BelizeBreeze]

Thanks Ron.

I've been enjoying the sun, the surf and the peace of mind that comes from being absent from here.

But I needed to vent so I'M BACCCCCCK

 

[Ron1347]

LOL....Welcome 'home'.