Welcome! Please use the navigational links to explore our website.
PartsASAP LogoCompany Logo (800) 853-2651

Shop Now

   Allis Chalmers Case Farmall IH Ford 8N,9N,2N Ford
   Ferguson John Deere Massey Ferguson Minn. Moline Oliver
 
Marketplace
Classified Ads
Photo Ads
Tractor Parts
Salvage

Community
Discussion Forums
Project Journals
Your Stories
Events Calendar
Hauling Schedule

Galleries
Tractor Photos
Implement Photos
Vintage Photos
Help Identify
Parts & Pieces
Stuck & Troubled
Vintage Ads
Community Album
Photo Ad Archives

Research & Info
Articles
Tractor Registry
Tip of the Day
Safety Cartoons
Tractor Values
Serial Numbers
Tune-Up Guide
Paint Codes
List Prices
Production Nbrs
Tune-Up Specs
Torque Values
3-Point Specs
Glossary

Miscellaneous
Tractor Games
Just For Kids
Virtual Show
Museum Guide
Memorial Page
Feedback Form

Yesterday's Tractors Facebook Page

  
Tractor Talk Discussion Board

Re: Purchasing family property - question


[ Expand ] [ View Replies ] [ Add a Reply ] [ Return to Forum ]

Posted by Pops1532 on January 18, 2014 at 17:43:43 from (98.227.133.60):

In Reply to: Purchasing family property - question posted by Eldon (WA) on January 17, 2014 at 18:35:17:

A friend's mom passed away. She had been in and out of the hospital and spent a short time in a nursing home. My friend's sister and her husband had done a lot of work to the house at their expense. The two brothers kicked in some money as well, but the sister and BIL kept all the receipts. The state had a lien on the house which was worth in the $100K range. The lien was for a little more than the value of the house. The sis produced the receipts for the work and said they did the labor (which they did). The state investigated and said if the daughter wanted the house she could buy it for $23K. She did. Her two brothers never asked for anything. They didn't even ask to be reimbursed for what they had contributed for materials when they fixed up their mom's house. They had given money as a gift to their mom to make her life easier. The siblings all got along great.

So not every situation is going to end up badly for someone trying to help a parent.

I wouldn't worry about the siblings wanting to cash in later. I'd be more worried about what will have to be spent on the house. The OP did say it's been in a perpetual state of remodeling.

If the siblings were to all chip in and buy the place I'd be worried about owning property with someone I don't want to be partners with.

The best option may be to let it go into foreclosure and buy it from the bank and lease it to the in-laws.

Talk to a lawyer!

This post was edited by Pops1532 at 17:44:16 01/18/14.



Replies:




Add a Reply

:
:
: :

:

:

:

:

:

: If you check this box, email will be sent to you whenever someone replies to this message. Your email address must be entered above to receive notification. This notification will be cancelled automatically after 2 weeks.


 
Advanced Posting Tools
  Upload Photo  Select Gallery Photo  Attach Serial # List 
Return to Post 

TRACTOR PARTS TRACTOR MANUALS
We sell tractor parts!  We have the parts you need to repair your tractor - the right parts. Our low prices and years of research make us your best choice when you need parts. Shop Online Today. [ About Us ]

Home  |  Forums


Today's Featured Article - Product Review: JB Weld - by Staff. JB Weld is basically an epoxy glue that does an exceptionally good job of bonding to cast iron and steel along with several other materials. As I mentioned, it is so common that I have yet to buy a tractor that did not have JB Weld used somewhere. It is sometimes used so well you can't tell its there and other times used as a sloppy quick fix. Finding where and how it can be used correctly is key to whether you are using it as an "inelegant hack" or an integral solution to difficult and expens ... [Read Article]

Latest Ad: 1945 Farmall wide body gas with pto and front plow. Runs good but needs new points. [More Ads]

Copyright © 1997-2024 Yesterday's Tractor Co.

All Rights Reserved. Reproduction of any part of this website, including design and content, without written permission is strictly prohibited. Trade Marks and Trade Names contained and used in this Website are those of others, and are used in this Website in a descriptive sense to refer to the products of others. Use of this Web site constitutes acceptance of our User Agreement and Privacy Policy

TRADEMARK DISCLAIMER: Tradenames and Trademarks referred to within Yesterday's Tractor Co. products and within the Yesterday's Tractor Co. websites are the property of their respective trademark holders. None of these trademark holders are affiliated with Yesterday's Tractor Co., our products, or our website nor are we sponsored by them. John Deere and its logos are the registered trademarks of the John Deere Corporation. Agco, Agco Allis, White, Massey Ferguson and their logos are the registered trademarks of AGCO Corporation. Case, Case-IH, Farmall, International Harvester, New Holland and their logos are registered trademarks of CNH Global N.V.

Yesterday's Tractors - Antique Tractor Headquarters

Website Accessibility Policy