Anyone ever inherit land with sibs?

[Eyerishgold]

My two brothers and I inherited a house when our father passed away two years ago. We just put it up on the market last week. It's taken this long for everybody to agree what to do with it. For a while, both brothers were living there rent free. I asked them to buy out my third of the house but they refused claiming to not have the money or ability to refi the house. Pretty amazing considering they were living there RENT FREE. Dealing with 2 sibs was bad enough, I can't imagine having to get more to agree.

[teachme]

Quote:

Originally Posted by FancyBear He wanted to sell it before he died to make the split easier but my sister talked him out of it.

Finding out why she didn't want it sold is important. If she wants all/part of the land then she either needs to have that portion of it subdivided and the equal portion given to her as well as whatever remaining portion she wants paid into the estate or she needs her long term dreams of buying it all or part of it to face the reality of not being able to afford it now.

Can't speak to your situation but I saw one case where this happened because that person knew they could work the aging parent and milked a significant portion of the estate off before the person died so what was left wasn't much and there ended up being a fight that to this day prevents the family from coming together.

My Father-in-Law recently sold his primary residence (acreage plus home) for a significant amount and took the proceeds and located two, nearly identical pieces of property to split between his children (my wife and her sibling), he is a smart man and has seen other people's post-death situations turn out bad and wanted to make sure that never happened...extremely smart move.

[kcowan]

My dad willed the house to my brother and the cottage plus money to me to equalize the market value. Even though the will was done many years before his death, his math turned out to be very good. Everything else was split 50-50.