Reply to Sister buying me out of parent's vacation home

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[quote=Anonymous]OP here:  I have been exceptionally clear that I want a buy out. All of the utilities have been put in her name, the house insurance is in her name, etc. We've only waited until this point because all of his investments have been finally been divided between us. If she wants to, she can use the money from the estate to buy me out. She mentioned that she may want a mortgage to save some of the money to improve the house/property.

As for the real estate agents, they are all family friends/church members who know both of us so I thought they would give us a fair assessment. I didn't want to mislead an agent into spending time doing an estimate thinking that they were going to list the property. I didn't think that they would give us inflated values.

But after reading some of the helpful comments here, I think the right answer is to contact our accountant and then appraisers if it's recommended. My husband would be furious if we ended up with tax complications because we (once again) let my sister take advantage of the situation.

I do want to maintain a relationship with my sister, mostly because I want to have my nieces in my life. I've only taken a couple silly sentimental things from the house. All the jewelry, furniture, guns, etc she can have. And she has told me that she will probably keep the house for about 10 years and then sell when her oldest graduates from high school. I think that she will put a lot of work into the place and will likely sell if for a lot more money, and I'm fine with that.[/quote]

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