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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Is there context missing on why they would gift their house to this sibling specifically? If, as you say, all of you have houses and mortgages of your own right now?

Because this is odd, and I'm trying to understand.

There's got to be more to this.  [/quote]

I am also trying to understand. I think the sibling suggested it and my parents went for it. They also didn't tell us all together. I called one sibling a week after I found out (because my parents asked me not to saying anything to my other siblings when they told me, since they wanted to tell my other siblings) and he still had no idea. I don't think it's intentional, but I think that my parents haven't thought this through and that they're doing this in a way that is really destructive for our relationships. [/quote]

Any insights into your sibling's motivations?  Is she financially literate enough to know the implications for other siblings as well as the tax and estate implications? Does she care if she has good relations with the rest of you?[/quote]

Sibling is jealous and insecure and likes having nice things. Sibling would not be able to afford a very nice house in a very nice area (mkt value is close to $3M), so this is the best way to do it. Sibling definitely does not understand tax implications, but parents will probably take care of that for sibling...and not a concern. Sibling understands that getting house now is better for them than getting house in 30 years from an estate standpoint, since it's worth so much less now than it will be in 30 years and thus, represents a smaller part of the estate. Sibling also understands no mortgage and implications of being able to sell current home and keep equity to invest in market, buy nice things, go on expensive vacations, etc.[/quote]

And yes, sibling understands that this will put a wedge between all of us. Apparently that's a concern.[/quote]

Concern of sibling or your parents?[/quote]

Putting a wedge between us is not a concern of my sibling, because she initiated this and didn't even talk to me and my other siblings before asking to see if we wanted the house or if we had any reservations. I have no idea why my parents haven't figured out it's destructive. They have a lot going on professionally and personally right now and I think maybe it just hasn't occurred to them yet.[/quote]

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