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][quote=Anonymous][quote=Anonymous]Property was co-owned by our father and uncle. No messy drama. During estate at the end of our dad's life, we were offered the opportunity buy out our uncle for a very fair sum we could all afford. My husband and I wanted to, but my two siblings and their spouses said no. Not only did I know the property would never depreciate, I thought it was important to let our dad stay there with his limited time and also keep the family tradition going. Siblings didn't care, they wanted the cash, so the property was sold.

Now six years later the property is worth three times what it was. We would have millions in equity between the three of us if they listened. In addition, the family tradition was lost. I think it broke my dad's heart before he died that he couldn't spend his remaining months there and know it was staying in the family. It infuriates me so much, especially during a holiday week like this. And siblings have a tenancy to complain how expensive a beach house rental is for their family in the same area.[/quote]

Yeah.  Similar happned to me.  At the end of Dad's life sibling agreed we would keep the place.  Even came up with a plan for use/costs.  After Dad died sibling just wanted money.  I could not afford to buy out at the time.  I kick myself because only 3-4 years later I could have swung the price with no problem.  I loved that place.  But you have to just let it go.  We bought another place somewhere else.  New family traditions.  Not worth hating on siblings.  Be happy you have those memories.  My Dad would love our beach place and he would love seeing his grandchildren there.  To be honest, new place is better.  Find your own new traditions, pass them on, and enjoy.[/quote]

This is why, if the parents have the means, they should leave specific things to specific people.  My mom is bequeathing her rental properties to me with instructions that my brother will be paid out his share through cash when her estate settles.  I want the real estate, he wants the cash.  I won’t have to buy him out, he’ll get his share directly from cash in the estate.  It couldn’t help the OP though since her dad shared ownership with her uncle.

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