Any Attorneys on this site? Have a question.

[Kenneth in Texas]

One question to ask is WHY your brother would sell it to his BIL before trying to sell it to you, his own flesh and blood? If this was me Id be pizzed and fight it anyway I couild. Now if he offered it to you first and you turned it down then yeah I can see him trying to sell to an outsider, if in fact he can legally do that. Sounds like either way you are going to have to spend some money on an attorney unch:

 

[Sigarms]

One question to ask is WHY your brother would sell it to his BIL before trying to sell it to you, his own flesh and blood?

+1

Gets even more interesting if the BIL buys your brothers portion out, then gets a divorce or sells his portion to someone you don't even know.

That said, I still can't figure out how siblings can turn out so much different as adults when they were raised in the same house. Sometimes it's the non blood relatives who have more common sense:laughing:

 

[PILOON]

Similar situation near me.
2 brothers and their sister inherited the parents chalet.

On brother never has been here, the other is across the country.
The sister's husband* is really a total nerd, does not know how to use a hammer, and to make matters worst he has a very minimal job.
The chalet is falling apart, roof leaks water system is occasional and property is totally overgrown.

*he no longer relies on friends to come up as he just purchased a new all electric car only problem is that the range is such that he can't return to the city and the chalet only had a 60 amp electric panel so re charging is a problem besides he needs to have the charger panel wired.

Guess when the roof caves in they will sell.

Don't think any of the siblings could afford to buy out the others from what I know.

 

[ultrarunner]

You hope for the best and plan accordingly but nothing is guaranteed...

My father owned 40% of a business he put 50 years into and worked until two weeks before he passed.

It was a small viable business and not a week after Dad died his partner brother circled the wagons and Mom was basically out...

We did the usual... paid a lawyer to review the documents and he said Mom has an excellent case as she inherited Dad's shares and conservatively valued Dad's equity, excluding the property was about 100k.

My brother was all for going ahead and said if for nothing else because it was the right thing to do not to let anyone get over on Mom...

Mom listened to the lawyer and decided she was not going to spend her days as a widow in a legal battle... the lawyer said it was a wise decision if she could weather the loss... went on to say family fights turn people into bitter vindictive individuals all consumed with hate and often when it is said and done the legal fees and time mean little is left.

Mom has always lived simply and having a home paid for, no debts and a modest savings/SS was enough for her to let it go... that was 17 years ago and she has no regrets.

 

[bigtiller]

what a crappie thing for your uncle to do.

 

[LD1]

I am afraid we don't have all the details here from the op.

If I was a 50/50 partner in anything with a blood relative, I'd offer to them long before I'd offer to someone outside.

The whole blood is thicker than water thing ya know.

Maybe it was offered, maybe not. At this point we just don't know.

 

[CADplans]

I am afraid we don't have all the details here from the op.

If I was a 50/50 partner in anything with a blood relative, I'd offer to them long before I'd offer to someone outside.

The whole blood is thicker than water thing ya know.

Maybe it was offered, maybe not. At this point we just don't know.

This would make me come up with a "creative" solution,,

I would "give" my half,, VERY QUICKLY, to the local Something Angels motorcycle club.
The shop would become the local meth dispensary.

After that,, the brother-in-law will have no interest in buying. The brother will be stuck with a worthless "half"
The OP can now buy for pennies on the dollar,, and, well,, we will see what happens!!

 

[newbury]

SWMBO is an attorney and as about the only blood related attorney to a large set of relatives has done a number of estate settlements usually going through probate etc.

Rule 1 is if it isn't in writing don't expect it to happen. So many of the relatives have shafted others I about expect long rifles at funerals.

Rule 2 is be VERY careful with power of attorney. Several households got sold out under the widow as a cash grab by one of the offspring that had convinced the deceased to give the power.

Rule 3 is that unless you can get away being a scofflaw Attorneys to settle disputes are expensive and SLOW. The wheels of justice turn slowly, but grind exceedingly fine.

Although the OP has not reposted in this thread that is something he should take into consideration - what's the value of the assets?
Should he pay $10,000 for the interest in a $3,000 garage? In some parts of the country lawyer fees are $400/hour and they will bill you for half an hour for billing you.

I disagree with

You hope for the best and plan accordingly but nothing is guaranteed...
<snip>

.
I plan for the worst and hope for the best. But never trust relatives.

Our son bought a 2 acre plot just north of Tupelo. Was planning on moving down with his wife (nurse) and young child. SWMBO fought for us to buy a lot right nearby a couple of years later. Before that discussion ended he got divorced and is living in Memphis.

Glad we didn't buy near him.

 

[TomSeller]

In some states owning as little as 1% is the same as owning 99% when it comes to using the property. Any percentage allows you to use the property as if it was your own if there is no operating agreement. Or is there?

I don't think that would apply to modifications or damage but basic use, yes from what I was told by an attorney. So the danger would be BIL owns 50% yet uses it 100% depending on the law in your state.

 

[TheMan419]

Yes we need more info from OP.

If it was offered to him at a reasonable price and he turned it down, then I have no sympathy for OP.

If it was never offered to him, or offered a ridiculously high price I have all they sympathy in the world for OP.

If BIL is buying for the crazy high price, does he want the other half for a crazy high price too? If so sell it and build your own that you own 100% of.