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Reply to "Two siblings forced the sale of our inherited beach house and I can't get over it"
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[quote=Anonymous]Jointly owning property is a nightmare. If it’s filled with cousins, siblings etc all summer then it isn’t being rented out. Maintaining a house on the beach is not cheap. Property taxes, insurance, maintenance, utilities, and then general upkeep f the interior so throw in housekeeping. The only way for your father and uncle to hand this down to multiple siblings nieces, nephews or whatever would have been to already a. Have it in a trust and b. Have a property management company rent it out for a designated time period to cover the costs of maintenance. OP could have done something where she loaned money to her father to buy the house from the uncle, or became a co owner of the house and had a contractual agreement that the house would rented for more time to cover the buy out. [/quote]
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