LEGAL opinion required.

[crustyngrizzly 1,702]

SCENARIO.

93 year old enters resthome.

Owns 50% of house

other 50% owned by family.

Certain members of family will not allow house to be sold for whatever reason.

93 year old wants house sold.

Anybody got views on how house could be sold in line with 93 year olds request.

 

[richie 1,027]

Sounds like it could get very messy quite quickly.Easy fix would be for family to buy out the 93yo if at all possible.

I would think family conflict is the last thing a 93yo needs.How many other family members involved and is familys 50% in  trust or as individuals.

What happens to 93yo share if he unfortunately passes away,does it automatically go to family,a trust,or an individual?Maybe something you wont know until will is read.

 

Hope all works out ok

 

[crustyngrizzly 1,702]

Six family members involved.

Ownership as individuals.

Go's to family if he passes away which is going to present more problems.

93 year old wants to sell to punish those that have prevented sale.

He wants to disburse his money leaving out the offenders.

22 minutes ago, richie-Richard McGee said:

Sounds like it could get very messy quite quickly.Easy fix would be for family to buy out the 93yo if at all possible.

I would think family conflict is the last thing a 93yo needs.How many other family members involved and is familys 50% in  trust or as individuals.

What happens to 93yo share if he unfortunately passes away,does it automatically go to family,a trust,or an individual?Maybe something you wont know until will is read.

 

Hope all works out ok

 

 

[Catalano 951]

Couldn't the family simply take out a mortgage and pay the old fella out of his share based on current market valuations?

[Ohokaman 5,842]

Sounds like a minority holding the majority to ransom ( bit like Trump...) and holding on obviously means a better pay out, while sticking it up the poor old fella at the same time. Might have been better for him to retain a majority share.

Agree with Hesi, get a lawyer involved. Get them to pay up or miss out.

[crustyngrizzly 1,702]

Been to 3 lawyers so far.Each has had a differing opinion of what can happen.

It's been pretty frustrating especially now with family members refusing to talk to each other.

The lines in the sand have been drawn and the only loser will be the 93 year old.

 

[Ohokaman 5,842]

All I can say is that is some family Crusty....!!  What lack of respect and greed can do, and you are not alone there.

I have nothing to do with my two sisters after finding out as executor that one of them, with her husband, had ripped off my father for nearly $60,000 and the other one decided to side with her on the premise that "Dad forgave her.." Like hell he did....!!

Don't quite see how there can be three opinions here. 

The majority owner wants to sell, and presuming some of those in the other half want to as well...and if there are six with equal shares they have 8% or so.....majority vote rules...??

I can't see any way the minority group can win this.

 

 

 

[crustyngrizzly 1,702]

29 minutes ago, hesi said:

When the lines are drawn, what are the percentages for and against

INCLUDING 93 YEAR OLDS...50%  ......... 64% FOR SALE

 

[crustyngrizzly 1,702]

38 minutes ago, Ohokaman said:

All I can say is that is some family Crusty....!!  What lack of respect and greed can do, and you are not alone there.

I have nothing to do with my two sisters after finding out as executor that one of them, with her husband, had ripped off my father for nearly $60,000 and the other one decided to side with her on the premise that "Dad forgave her.." Like hell he did....!!

Don't quite see how there can be three opinions here. 

The majority owner wants to sell, and presuming some of those in the other half want to as well...and if there are six with equal shares they have 8% or so.....majority vote rules...??

I can't see any way the minority group can win this.

 

 

 

Since this has happened we have been told of many cases where similar things have happened and yes it is some family.

[Ohokaman 5,842]

9 minutes ago, crustyngrizzly said:

INCLUDING 93 YEAR OLDS...50%  ......... 64% FOR SALE

 

If that is two out of six for the sale ( 50+16) then 66%. If three you are over 70%. Presuming equal shares which they might not be. The legal opinion above looks pretty good.

[crustyngrizzly 1,702]

In my opinion they have listened to a load of b/s about who is benifiting from his estate most,and despite being told different by the person who has power of attorney for money they  won't budge from their opinions.Even accusing a family member of coercing the 93 year old into changing his will.

I suppose eventually death may be the only way to reveal the truth.

[chevy86 2,710]

4 hours ago, crustyngrizzly said:

 

I suppose eventually death may be the only way to reveal the truth.

Now you are on to it Crusty--keep those thieving lawyers out of it or else the residual estate value will be less than 50%. Coupled with their obfuscation and choked court schedule you will not see a result for 2-3 years and those invoices will keep rolling in. It is common to be seduced by the "93 year old" moniker but from personal experience SOME of them trade on the advanced age condition when they are really just manipulative nasty bastards.

[chevy86 2,710]

8 hours ago, crustyngrizzly said:

SCENARIO.

93 year old enters resthome.

Owns 50% of house

other 50% owned by family.

Certain members of family will not allow house to be sold for whatever reason.

93 year old wants house sold.

Anybody got views on how house could be sold in line with 93 year olds request.

 

No doubt the family are having to subsidise the rest-home fees unless the old fella has some residual cash. This will keep happening until the estate value is about 220-230K--keeps rising yearly by small increment--at which time the State will pick up the full tab. As I said previously, keep those lawyers out of it as they offer no solution, just costs.

[crustyngrizzly 1,702]

11 hours ago, chevy86 said:

%%No doubt the family are having to subsidise the rest-home fees unless the old fella has some residual cash. This will keep happening until the estate value is about 220-230K--keeps rising yearly by small increment--at which time the State will pick up the full tab. As I said previously, keep those lawyers out of it as they offer no solution, just costs.

Fully subsidised based on the fact he only owns 50 % of house and has minimal cash.

Caught me unawares that for sure.

[crustyngrizzly 1,702]

PART TWO.

Old fellow has been suffering from delirium but has been passed fit by the Docs and so obviously wants his house sold.

Family member who would not sign originally has said he will sign provided the old fellow changes the will to make it less beneficial to another family member who was to get 2 shares as opposed to 1.

Old fellow has now done this but along with 3 other family members they want to see the will before they sign.

We remaining members have approached the old fellows lawyer and age concern with our feelings regarding coercion or at least manipulation,however they both gave similar answers against our concerns.

 

[final luca 189]

just my opinion..  this depends if you are one of the 5 or 6 family members...  at 93 one would think his days are numbered.

1)put  a pillow over the 93 year olds head.

2) just wait until    he  drops dead  (this way no matter what he puts in will, you can do whay you want with it )

3) buy his share out (but have no idea what a 93 yr old wants with money.)

4) fight it in the courts , were no winners but the lawyers.

 we had something similar with my family when mother died,   6 other siblings besides myself. 7 in total,

we got paid out almost straight away but that depended if everyone was in agreement, some (2) decidered that myself and a sister should get nothing..

we kept some documents from my mother that showed  those 2 siblings  using mothers money when they should not had  been able to do so .. so they soon signed paper work... house was  sold , money handed over and given to all 7..

me personally , money doesn't mean much. to much heart ache.. family fighting over houses /money  means even less... 

for this issue.. i'd play the waiting game, be nice  as pie to the old coot, and get an even bigger share of the estate.

[aquaman 1,352]

My opinion, its the old boys money and nobody else's. Everybody else can get fooked. He may give it all to the Sallies if he so wishes. All he has to do is create a new will. The rest of the vultures can argue amongst themselves.

[crustyngrizzly 1,702]

No problem what he does with his money.

The problem is we feel he has been put in a situation where he has had no choice to change the will if he wanted the house sold.

1 hour ago, aquaman said:

My opinion, its the old boys money and nobody else's. Everybody else can get fooked. He may give it all to the Sallies if he so wishes. All he has to do is create a new will. The rest of the vultures can argue amongst themselves.