Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Re: Deeded Togetherness. Or Who Really Owns This Place?
Old 02-01-2007, 04:17 AM   #21
Thinks s/he gets paid by the post
BUM's Avatar
 
Join Date: Feb 2004
Location: Mid Hudson Valley
Posts: 1,778
Re: Deeded Togetherness. Or Who Really Owns This Place?

Quote:
Originally Posted by Laurence
whatever way it goes they are lucky to have you.
And vice-versa

Grandma used to say, "Opinions are like ***holes. Everybody's got one." I asked for opinions and as I hoped and expected I got them. This family merger is moving forward.

Oh yeah, and Pop had a great saying too. "Most things are alot easier to get into, than to get out of." Trust me to keep that in mind.

__________________

__________________
In a panamax down by the river.
BUM is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Re: Deeded Togetherness. Or Who Really Owns This Place?
Old 02-01-2007, 01:12 PM   #22
Moderator Emeritus
laurence's Avatar
 
Join Date: Feb 2005
Location: San Diego
Posts: 5,234
Re: Deeded Togetherness. Or Who Really Owns This Place?

The thing is, if you guys all get along that well to even consider doing this, you are already a very lucky family!
__________________

__________________
laurence is offline   Reply With Quote
Re: Deeded Togetherness. Or Who Really Owns This Place?
Old 02-01-2007, 04:06 PM   #23
Recycles dryer sheets
 
Join Date: Dec 2006
Posts: 149
Re: Deeded Togetherness. Or Who Really Owns This Place?

Finances aside, I'd be cautious.

I live in farm country and it is very common for farm families to live in close proximity, often right next door on the same farm, with the parents owning the farm. I've been there, I rented from my dad just down the road from his farm. I paid the same rent that the previous tenant did, but, the place was never really my home.

I love my parents a great deal, but I'm a lot happier 15 years later after I bought my own house 7 miles away.

I see this a lot, the kids want to remodel, or add on, or paint the whole place purple and the parents object, verbally or non-verbally and it creates some hard feelings. My mother & father in law were more or less given a house by her parents when they got married 50 years ago, and they felt the place was never really "their's". The parents lived across the farm and they didn't feel they could do anything without their blessings.

The most important factor in this is not economic, it is keeping your family happy.



__________________
"Watch your topknot"
Empty Pockets is offline   Reply With Quote
Re: Deeded Togetherness. Or Who Really Owns This Place?
Old 02-01-2007, 04:51 PM   #24
Moderator Emeritus
Nords's Avatar
 
Join Date: Dec 2002
Location: Oahu
Posts: 26,616
Re: Deeded Togetherness. Or Who Really Owns This Place?

Quote:
Originally Posted by Laurence
The thing is, if you guys all get along that well to even consider doing this, you are already a very lucky family!
Oh, they may get along fine now, but wait until they're a few years down the road.

Not that I'm bitter. Five and a half years, and 31 days left...
__________________
*
*

The book written on E-R.org, "The Military Guide to Financial Independence and Retirement", on sale now! For more info see "About Me" in my profile.
I don't spend much time here anymore, so please send me a PM. Thanks.
Nords is offline   Reply With Quote
Re: Deeded Togetherness. Or Who Really Owns This Place?
Old 02-01-2007, 06:58 PM   #25
Thinks s/he gets paid by the post
BUM's Avatar
 
Join Date: Feb 2004
Location: Mid Hudson Valley
Posts: 1,778
Re: Deeded Togetherness. Or Who Really Owns This Place?

Quote:
Originally Posted by Nords

Not that I'm bitter. Five and a half years, and 31 days left...
Uh oh. Sounds like theres a story there.

Thing with us is, we won't be here but a few weeks out of the year... Christmas, Thanksgiving... so the getting-in-each-others-way part shouldn't be a problem
__________________
In a panamax down by the river.
BUM is offline   Reply With Quote
Old 06-29-2007, 07:19 AM   #26
Thinks s/he gets paid by the post
BUM's Avatar
 
Join Date: Feb 2004
Location: Mid Hudson Valley
Posts: 1,778
Quote:
Originally Posted by tryan View Post
Skip the legal dance ... allow the living arrangements you describe but keep the place in YOUR name.

UPDATE
The concept is still chugging along but the plan is slowing morphing
Well it looks like we will be closing on house #1 in a couple weeks (I keep saying that) and moving the kids into our big house. No ownership changes for now. The kids will pay all expenses except taxes and HOI which we will split. Accounts like cable, electric, telephone, trash removal, etc. are being put in their names. DW and I will pay our estimated share of the utilities when we are in residence.

I've remodeled the basement, added a kitchenette. Already had a half bath, bedroom and office area. Now a quiet, comfy place to sleep, snack, read, watch TV, escape, whatever. The main floor is designated as common area. We will share kitchen, LR, DR, and den and the upstairs (3 BR) is for the kids.

Once we get them moved in, we are outta here! Heading for the beach, be back around Thanksgiving... thats the plan, so far. Everyone is excited.
__________________
In a panamax down by the river.
BUM is offline   Reply With Quote
Old 06-29-2007, 12:28 PM   #27
Moderator Emeritus
Nords's Avatar
 
Join Date: Dec 2002
Location: Oahu
Posts: 26,616
Quote:
Originally Posted by BUM View Post
Once we get them moved in, we are outta here! Heading for the beach, be back around Thanksgiving... thats the plan, so far. Everyone is excited.
Excellent. Glad this is working out.

Have they shared their home-improvement ambitions with you, or are they just going to save them as a Thanksgiving surprise?
__________________
*
*

The book written on E-R.org, "The Military Guide to Financial Independence and Retirement", on sale now! For more info see "About Me" in my profile.
I don't spend much time here anymore, so please send me a PM. Thanks.
Nords is offline   Reply With Quote
Old 07-01-2007, 07:53 PM   #28
Thinks s/he gets paid by the post
BUM's Avatar
 
Join Date: Feb 2004
Location: Mid Hudson Valley
Posts: 1,778
Quote:
Originally Posted by Nords View Post
Excellent. Glad this is working out.

Have they shared their home-improvement ambitions with you, or are they just going to save them as a Thanksgiving surprise?
That is funny. The menu might read, Turkey Surprise or just, "Surprise, turkey!" They are sensible and have good taste. I'm not too worried. They're the ones wondering about the lamps and those pink recliners.
__________________
In a panamax down by the river.
BUM is offline   Reply With Quote
Old 07-31-2007, 05:09 AM   #29
Thinks s/he gets paid by the post
BUM's Avatar
 
Join Date: Feb 2004
Location: Mid Hudson Valley
Posts: 1,778
Final Chapter? (you hope).


Fiiiiinalllly closed on the old house last week. The kids have moved in with us. Overall they're happy and I'm happy, especially now that their dog is wearing a no-bark collar and they are paying the household expenses. DW is smiling but methinks she is reserving judgment. Things are on plan. We leave for the beach (with the house being well cared for) next week!
__________________
In a panamax down by the river.
BUM is offline   Reply With Quote
Old 07-31-2007, 08:19 AM   #30
Full time employment: Posting here.
kaudrey's Avatar
 
Join Date: Feb 2006
Location: Alexandria, Va
Posts: 941
Good for you! Have a great trip!

Karen
__________________
kaudrey is offline   Reply With Quote
Old 07-31-2007, 09:07 AM   #31
Moderator Emeritus
Nords's Avatar
 
Join Date: Dec 2002
Location: Oahu
Posts: 26,616
Congratulations, BUM, I'm glad that sale went through before the buyer thought of any more issues!
__________________

__________________
*
*

The book written on E-R.org, "The Military Guide to Financial Independence and Retirement", on sale now! For more info see "About Me" in my profile.
I don't spend much time here anymore, so please send me a PM. Thanks.
Nords is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Thinking of Renting our Place cube_rat FIRE and Money 2 08-13-2006 08:43 AM
Am I in the right place? Lena Hi, I am... 11 05-25-2006 08:06 PM
Theres No Place Like Home yakers Life after FIRE 47 10-30-2005 11:40 AM
Best Place to Live....Vancouver Calgary_Girl Other topics 19 10-06-2005 03:44 PM
Best Place To Park Some Cash rsboone FIRE and Money 15 09-09-2004 10:55 AM

 

 
All times are GMT -6. The time now is 01:11 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.