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Real Estate
Reply to "Inheriting house together with sibling...who wants to move in - WWYD?"
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[quote=Anonymous]If you can't come up with a fair deal, please just sell the house. If you let the sib live there and just retain 50% ownership, you are guaranteeing a fight in the future. Especially now with in-laws and kids, you two need to unencumber (untangle) yourselves from each other and make it clean. With my brother and me, I inherited the house and my brother inherited the fair market value of the house in stock/cash. The estate planning documents provided that if there wasn't enough stock/cash to cover the value of the house, that I'd take out a mortgage on the house to pay my brother off. If that wasn't enough, I would have used my savings to pay him off. If that didn't do it, I'd take out another loan. Or rent the house and pay him off. It needs to be clean. If I couldn't swing all that I would have sold the house. [/quote]
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