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property to split brothers

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What is the name of your state? california
in 2001 my father gave my brother and I a home with a mortgage of 150,000.00 . my brother went ahead and refinaced for an 275,000.00 and decided to move in the home with the intent on upgrading with a plan to sell in 2010. at that time in 2001 it appraised for 406,000.00. he has given me 75,000.00 over the past 2 years and now say's i have to wait until 2010 to get the rest. not only that , he also wants me to pay for the upgrade expenses along with closeing costs. shouldnt it then be base on a more recent appraisal? I feel im getting shorted somehow. How can we evenly split the equity of the home if he already refinanced? I think he's buying me out of my share, but what how much should i get and when should i get it?



Have a visit with a local real estate attorney. You can file a Partition for Sale action and force your brother to buy out your remaining portion of the property.

A judge will determine the present value of the shares based on payments made to-date and a current appraisal.

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