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Glad that's finally over

3

37chief

Well-known Member
Location
California
Mom left my brother and myself the remaining almost 4 acres of the farm. Before I could divide the land, the city made me do a minor subdivision. So that is what I did, and created two 1/2 acre lots. The rest remained the same. I finally sold one of the 1/2 acre lots. I am giving my daughter the other 1/2 acre. Early on I had two potential buyers, Which backed out.I paid off my first, and second loan on my house. Of the thousands I spent I am not gaining a thing back. Maybe break even. Like I said I am glad that's over Stan
 
(quoted from post at 20:04:06 02/05/15) Mom left my brother and myself the remaining almost 4 acres of the farm. Before I could divide the land, the city made me do a minor subdivision. So that is what I did, and created two 1/2 acre lots. The rest remained the same. I finally sold one of the 1/2 acre lots. I am giving my daughter the other 1/2 acre. Early on I had two potential buyers, Which backed out.I paid off my first, and second loan on my house. Of the thousands I spent I am not gaining a thing back. Maybe break even. Like I said I am glad that's over Stan
Click to expand...


That kinda stuff can be a nightmare to deal with.

Rick
 
I have many tell me it would be easier to die poor after seeing the problems many have with estates.
 
My dad had two brothers when their mom passed away. Dad got the home place with 42 acres and all the buildings, one brother got Grandma & Grandpa's new little house on 4 acres and the other brother got 35 acres. My dad ended up paying his two brothers a total of $14,000 to make up the difference of value for what he got and what they got. There was no arguing or hard feelings. My mom and dad went into assisted living last month and my two brothers and our sister are getting along well so far. We're allowed to take what we want from the house. Some things are gone but still lots left.
 
Stan,
I prayed my mom would live long enough, die penniless, so I didn't have to deal with an estate and unhappy siblings. God does answer prayers.

A dying parent seems to bring family together, only to have family torn apart after they die.
 
Not a problem here. After Dad died, mother quickly and quietly signed EVERYTHING (Dad was 5th generation on the farm) over to her favorite baby child. The other three of us got nothing.

All that's left now is a trailer on about 1.7 acres.
 

Our home place is less than an acre, and none of us four want it. It has been for sale for five years but no offers due to uncertainty over the potential expansion of high tension elec. Transmission wires 75 yds from the property line, so I have to keep maintains it.
 
Don't know where the information came from but my mother's parents divided the family farm, gave each of their kids a portion and they got lifetime rights. When they died, they didn't own anything. No paperwork to handle, no taxes, etc. So far, we've been able to buy back about 2/3 of the whole place. Been here for 23 years.
 
We've been telling our mom that she should sell her place and use the money to fund her retirement. Neither of us is going to move back to our childhood home and we don't want the hassle of selling it. I'd rather see her do something she enjoys with the money.
 
I'm the youngest of a dozen kids, and my parents had a small (150ac) farm that started getting to be too much for them to maintain. Six of us that were interested, formed a partnership and bought the place from them (at a reduced price from market), and they retained a life estate.
My parents have since passed, but twenty years later, it's still out working well. But I can understand how estates can be a nightmare
Pete
 
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