to sell or not

[coolguy147]

Re: to sell or not

man, she has started giving me trouble again....

by the way, both of my parents do not want me to sell it and i just might have to agree. i got some good advice from a well off now retired doctor. he said that he didn't get this nice house and brand new F-150 from being in practice. property was everything.

only question i have right now. if she wants to build a new dock and i don't want to. do i still have to pay for half of it?

 

[CheapboatKev]

Re: to sell or not

Your first sentence is out of line, (for the forum)
Yes, if she is improving your half of the house as well as yours.

 

[Beefer]

Re: to sell or not

As others have said, don't sell. Even if you wanted to, now is not a good time to sell if you don't have to.

As for the dock, it's not a repair, and I would think that if she wants a dock, you can tell her with a smile on your face that you see no need for a dock, and if she wants to install a dock, it's on her. Improvements (not necessary repairs) on jointly owned property should be agreed upon by both parties. What if she wants to have a top-notch Japanese Garden put in, would you pay half of that?

One huge thing you have going for you is that you are under 18, and because of that, you can not legally enter into a contract, so even if you agreed to something, you can't be held to it in a court of law. Speaking of which, you may want to get some legal advice from an actual attorney.

 

[rbh]

Re: to sell or not

If she owns 50% and you own 50%, you can veto anything you want, as long as there is no safety concerns.
And "DO NOT" sell of any percentage of the property, or you will loose control!

 

[Mattv88]

Re: to sell or not

Could you maybe sell to your parents, once you're 18?

That way you get profit from the sale, and I would assume you could still use the house if your parents owned it?

 

[coolguy147]

Re: to sell or not

i'm just going to say this...she will get a lawyer if necessary.

i just can't tell if she really wants the house because she likes fixing up things and living there or she wants the house because she gets a lake house for basically nothing and gets her boyfriend to move it. i don't know? i honestly do not know at the time on what to do and i just turned 17 soo....

now she wants to cut down a bad tree....i feel the biggest arguments she has on getting me to sell the house is i don't do enough around the house, i don't have the money, she wants it badly, and who knows what other things she has said. i don't know who's at fault here. me? her? both? nobody? idk....

 

[aspeck]

Re: to sell or not

Sounds like you really need a 3rd party mediator. Is there a trusted family member or older family friend that you both trust? You can both give your sides to them and they can give you an outside opinion. All we are hearing is one side, and the last post lets us know you are conflicted about all of this. You need someone with a cool head and no vested interest either way to give both of you a different prospective and maybe come up with a solution that will satisfy both of you.

 

[erwinner]

Re: to sell or not

Man, this sounds like a huge PITA! Sorry you have to go through this.
No matter how stubborn your sister is being you have to put the family relationship first. I have two brothers and am very fortunate that we have always gotten along well ever since we were little kids. (we're 24, 27 and 29 now) If grandpa left us a house (he won't, he's a jerk. ) and one of us wanted it we would sit down and talk it out until we all came to terms we could all deal with.
Maybe you could make a deal where you give her your interest in the house with a clause that you will be able to use a slip on her new dock, including shore power, for free! These are mere earthly things and family should come first. Nothing wrong with giving to your sister.

 

[coolguy147]

Re: to sell or not

i mean she calls it the benefits and that i can come by all the time and do all of the stuff i did before, boats, garage, etc. idk, i'm just not feeling it. honestly, i can just see me selling the house and then ending up take everything i own out of it (basically whole garage) boats, etc, and never coming back.

 

[oops!]

Re: to sell or not

watch out.....

the boy friend could be working an angle....

lake lots around here start a a million bucks a pop...(that is the cheap ones).

you must learn to be firm with your sister. she may not even see what is happening

 

[jasoutside]

Re: to sell or not

The writing is on the wall. You'll be battling your sister about every single solitary thing that happens at this lake house. Your relationship with her may fall apart and you may not even enjoy going there any more (which is kinda the point of a lake house eh).

Is it worth it to you?

Yes? Carry on then.

No? Sell your share to her. Put that cash in an interest bearing college savings account. Walk away with and education and no debt. Score a nice job, buy a house on a lake and have fun

Just one guys thoughts.

 

[coolguy147]

Re: to sell or not

The writing is on the wall. You'll be battling your sister about every single solitary thing that happens at this lake house. Your relationship with her may fall apart and you may not even enjoy going there any more (which is kinda the point of a lake house eh).

Is it worth it to you?

this is what she keeps telling me to do. i mean, i'm not going out of state and most likely will stay at home as my mom cleans houses and my dad is retired....sooo not much income.

Yes? Carry on then.

No? Sell your share to her. Put that cash in an interest bearing college savings account. Walk away with and education and no debt. Score a nice job, buy a house on a lake and have fun

Just one guys thoughts.

this is what she keeps telling me to do....my dad is retired and my mom cleans houses....so not much money...i believe ill be staying home to college and going to a respectable university. plus i can tend to my sister's needs...i mean the houses get a job too.

 

[lakelover]

Re: to sell or not

Hire an attorney. Your own attorney
Have that attorney get an accurate appraisal.
He'll be able to walk you thru your legal options, including a potential partner's agreement.
Personally, I don't think patnerships work without cooperating partners.

Ultimately, it is a business deal, and you need to take the emotion out of it as much as possible to avoid potential headaches, and you are looking at serious headaches here.

This is excellent advice.

Above all, don't do anything until you are ready and absolutely sure, the opportunity for a lake place may not repeat itself.

I share ownership of our lake place with my brother and sister, and luckily, in the 12 years we've shared it, we've been able to come to agreements on everything. I think the value of a lake place can't go anywhere but up. Another thing to consider is taxes.....our property taxes have 3x in the last 8 years, and school taxes have 2x. Good thing we are a three-way split.

Oh yeah, and watch out for the boyfriend!

 

[coolguy147]

Re: to sell or not

what do you mean by partnerships? i honestly do not feel it is the right thing to do and something is going to turn out in disaster. as we speak my dad is going on his little rants about how it is a bad idea to sell it....jajaja. well, if my sister asks me again i'm going to tell her i'm not 18 (she still keeps bugging me about it though...) and i don't feel that it's the right decision.

 

[korygrandy]

Re: to sell or not

The only way I would buy a lakehouse is if one of my siblings went in with me. Otherwise it would be too much work and repsonsibility for me. In Minnesota lots of folks have lake property. I would go as far as to say if you are a Minnesotan, you know all about life at the cabin and I think most would agree these are usually family affairs in my neck of the woods.

Cabins are supposed to be a retreat...and they can be if you and your sisters expectations are the same. Here's a piece of advice though, start small and get a cellphone plan, just the two of you and see how that goes.

If you quickly see that even managing a simple cell phone bill together is tough, this will be more of what is to come.

I would at a minimum sit down with a lawyer (you and the sis) so you are both having the same adult conversation with a lawyer. I can see how she is looking down on you as a little brother right now, but with an investment like this, it is more appropriate for her to team up with you and tackle this together.

I wouldn't sell in these market conditions unless absolutely necesarry.

 

[coolguy147]

Re: to sell or not

The only way I would buy a lakehouse is if one of my siblings went in with me. Otherwise it would be too much work and repsonsibility for me. In Minnesota lots of folks have lake property. I would go as far as to say if you are a Minnesotan, you know all about life at the cabin and I think most would agree these are usually family affairs in my neck of the woods.

Cabins are supposed to be a retreat...and they can be if you and your sisters expectations are the same. Here's a piece of advice though, start small and get a cellphone plan, just the two of you and see how that goes.

If you quickly see that even managing a simple cell phone bill together is tough, this will be more of what is to come.

I would at a minimum sit down with a lawyer (you and the sis) so you are both having the same adult conversation with a lawyer. I can see how she is looking down on you as a little brother right now, but with an investment like this, it is more appropriate for her to team up with you and tackle this together.

I wouldn't sell in these market conditions unless absolutely necesarry.

my thoughts exactly on the about selling it. don't do it unless absolutely necessary. btw, not sure on the lawyer part?

 

[lakelover]

Re: to sell or not

(korygrandy, correct me if I'm wrong), but he means you and your sister should sit down with a lawyer and make a legal agreement about what's going to happen, and how you're going to handle the situation. You only have to have a framework or idea when you see a lawyer, and he can help you hammer out something so you're both satisfied, or at least can agree to. Then if the conditions are broken, at least you have some recourse.

 

[Hoobz]

Re: to sell or not

Like someone else has asked, but has been totally over looked and avoided so far: Is this property sub-dividable?

This would possibly be the number one option between you and you sister if it is a decent sized property. If it is sub-dividable, you could end up with some vacant land on the lake and some extra cash, for your education, because your sister bought the actual house to live in, on her part (1/2?) of the property...

Why isn't any one else throwing around the possibilities and outcomes of sub-division
It could be a very big 'Win-Win' here.

BTW, this is my first post on this forum after lurking nearly ever day for a couple of months now. I've probably spent over 100 hours reading about everything to do with boats, it's how I'm learning about them. I'm a moderator on an Aussie Dirt biking forum, and know my way around in these. I'd like to say this is an excellent forum, with some top knowledgeable people in here contributing often. Well done. It's great.

Anyway, I know not much about boats just yet, but I do know a lot about the benefits of sub dividing. I work on them everyday I guess this thread is what finally tipped me over the edge to whack up my first post.

I guess I better go fill in all the details on my profile now

 

[coolguy147]

Re: to sell or not

no, the property is not sub-dividable.

i will update you guys if anything new happens.

 

[Hoobz]

Re: to sell or not

no, the property is not sub-dividable.

i will update you guys if anything new happens.

:facepalm:

Well, that's that then.