M
macbers
Guest
My mother's house is deeded in three names, in equal shares: her's, mine and my sister's. It has been deeded like this for about 15 years.
My mother admitted herself into a nursing home just over a year ago. My sister and her husband offered to move in to my mother's house at that time to "keep an eye on it." We all agreed that would be a good idea. My sister agreed to pay all utilities and taxes. There is no mortgage on the house.
As I said, it has been over a year now and my mother agrees that she will never be able to return to her house. She really likes it where she is at and wants to spend the rest of her days there. My mother would like all proceeds from the house to be split equally among my sister and me, right now and at the time of her death. She wants nothing from it. She would like the home to stay in all three names until her death, though. She contends, and I agree, that things are not fair and equitable as is.
My sister and her husband want to continue living in the house. My question is: What would be a fair and equal settlement between the two of us until the time of my mother's death? Should she be expected to pay me 1/2 of what we could get if we rented it out? What about utilities and taxes? What about improvements? She recently had a new roof put on it and intends to paint the outside this spring.
I would really appreciate any advice and direction that you can give me on this matter!
My mother admitted herself into a nursing home just over a year ago. My sister and her husband offered to move in to my mother's house at that time to "keep an eye on it." We all agreed that would be a good idea. My sister agreed to pay all utilities and taxes. There is no mortgage on the house.
As I said, it has been over a year now and my mother agrees that she will never be able to return to her house. She really likes it where she is at and wants to spend the rest of her days there. My mother would like all proceeds from the house to be split equally among my sister and me, right now and at the time of her death. She wants nothing from it. She would like the home to stay in all three names until her death, though. She contends, and I agree, that things are not fair and equitable as is.
My sister and her husband want to continue living in the house. My question is: What would be a fair and equal settlement between the two of us until the time of my mother's death? Should she be expected to pay me 1/2 of what we could get if we rented it out? What about utilities and taxes? What about improvements? She recently had a new roof put on it and intends to paint the outside this spring.
I would really appreciate any advice and direction that you can give me on this matter!