Reply to Inheriting house together with sibling...who wants to move in

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Sibling needs to buy you out, but at a good deal. Maybe not market. At least half of what parents bought it for, adjusted for inflation, plus half of what money parents put in.[/quote]

Why not at market? Why should A lose money on the deal?

I agree with other PPs, if B can't fully buy out A, then they should sell. The only compromise I would possibly consider is to allow B to pay A rent (half of market value)  for a period of time (2 years) to save money to buy. [/quote]

Pp here, juts realized the Problem is what if sibling sells for profit and that makes a bitter down the road?

[b]Was there additional money given in the inheritance? [/b][/quote]

OP here - Yes, there was. It would be enough for B to send kids to private and cover some/all college expenses for 2-3 children, but not enough to buy out A's half of the home value. Even if it did cover half the home value, B would have to somehow afford private school on top of that given the neighborhood (although I suppose she'd be living mortgage-free, so maybe do-able). Also, most of it is locked in a trust for the next 10 years for Sibling A and 15 years for Sibling B, so trustee (family friend) would have to be on-board with her plans.[/quote]

Sib B is an excellent negotiator for her "half" of things. Not so much for Sib A. [b]Sib A is a doormat to even consider all this based on an "emotional; attachment"[/b] LOL..[/quote]

OP here - maybe so. I tend to see it as considering it based on an interest in preserving my good relationship with my sister and not being sure it's worth fighting over between us.

That said, PPs have raised concerns I'd not considered (liability issues, for example) which makes me think that pushing back on this is the best course of action.[/quote]

OP, you sound like a good person. the problem is that the best way to preserve your relationship with your sister is probably selling the house, not letting her get a home she clearly cannot afford. on a $3M home real estate taxes alone are probably over $25K a year, and the maintenance is very expensive. you say she can afford a mortgage of $500K with her fiancé. the fact that you need to I include a stranger into the picture is also a problem. what happens if they divorce in a few years (and the fact that the fiancé, who does not have an emotional attachment to the house is willing to free load on you does not bode well).  sounds like your sister makes less than 100K a year. once she has kids, she will not be able to afford that house. are you ready to step in and pay the RE taxes when she cannot? based on her current behavior, she can expect that the "rich" sibling will step in and help her again to prevent the loss of the house. basically, if you sell now, it's going to be painful but eventually your sister will come to her senses (she cannot afford the house, this is the reason she does not get it). if you don't, you are going to put money between you and your sister for a very long time, and the relationship can really sour. good luck[/quote]

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