Reply to Inheriting house together with sibling...who wants to move in

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[quote=Anonymous]Basics of the situation are two siblings (and, by extension, their respective families) are jointly inheriting a house valued around $3m, mortgage-free. Sibling A and his spouse and child like the house, but wouldn't want to live there (mainly due to schools in the area). Sibling B and her fiancé want to move right in, settle down there, and start having children - they're fine with the local private which they could afford given the rest of the inheritance.

Sibling B does not have the cash on hand to "buy-out" Sibling A for their half of the house. They also, likely, could not afford a mortgage on half the value of the house (especially not that mortgage plus private school). Sibling B has more emotional attachment to the house, as she lived there during HS, whereas Sibling A was in college already when the house was bought.

As Sibling A, would you:
1) Let Sibling B and fam move in and just retain ownership of 50% of their house indefinitely.
2) Work out some sort of "family mortgage" or payment plan for your half of the home's value, with terms lax enough that Sibling B and fam may actually be able to afford it (likely would have to be a looooong time-frame and little to no interest to make this happen).
3) Insist on selling the house and splitting the cash with Sibling B.
or 4) Other suggestions?[/quote]

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