edited
This post has been edited by Ricky300: Jun 12 2016, 01:25 PM
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Jun 27 2015, 08:20 AM, updated 10y ago
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#1
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1,514 posts Joined: Jan 2003 From: Earth |
edited
This post has been edited by Ricky300: Jun 12 2016, 01:25 PM |
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Jun 27 2015, 08:29 AM
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#2
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1,403 posts Joined: Jun 2009 |
hire a lawyer if cannot resolve within own family members
This post has been edited by cedyy: Jun 27 2015, 08:31 AM |
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Jun 27 2015, 09:14 AM
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1,997 posts Joined: Oct 2013 |
2nd wife means no legal entitlement already.
unless there is a written will specifically named him as part of the beneficiary. |
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Jun 27 2015, 09:50 AM
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Jun 27 2015, 10:17 AM
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QUOTE(Ricky300 @ Jun 27 2015, 09:50 AM) you need to get a lawyer to handle this for you..also claim back whatever rental that was not paid PLUS interest.. if he is named as beneficiary, surely he is entitled to his portion of the rental..he is after all the OWNER too ma.. |
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Jun 27 2015, 10:19 AM
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#6
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Staff
25,802 posts Joined: Jan 2003 From: Penang |
There is the problem of a property with joint name.
Since the other 2/3 owner refuse to apportion the rental income, the only solution is through legal process to claim back. But the cost of legal process may outweight the 1/3 rental income. A better solution is to propose the other 2/3 owner to buy over the 1/3 share. As the property technically cannot be sold or rent (sign new tenant agreement), without all party agree. So propose to the other 2/3 portion owner, stated there may be future problematic/deadlock situation, if not buying over the 1/3 share, as if 1/3 share owner doesn't want to sign, nothing can be done on the property, which virtually all party get nothing from the property. |
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Jun 27 2015, 10:25 AM
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QUOTE(cherroy @ Jun 27 2015, 10:19 AM) There is the problem of a property with joint name. That's what I told my friend too.Since the other 2/3 owner refuse to apportion the rental income, the only solution is through legal process to claim back. But the cost of legal process may outweight the 1/3 rental income. A better solution is to propose the other 2/3 owner to buy over the 1/3 share. As the property technically cannot be sold or rent (sign new tenant agreement), without all party agree. So propose to the other 2/3 portion owner, stated there may be future problematic/deadlock situation, if not buying over the 1/3 share, as if 1/3 share owner doesn't want to sign, nothing can be done on the property, which virtually all party get nothing from the property. However he was being told that, the WILL didn't state that rental has to be apportioned.......He seek advises (ain't sure if he/she is a lawyer), the advisor told him that he can't do much in this case. |
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Jun 27 2015, 10:39 AM
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#8
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25,802 posts Joined: Jan 2003 From: Penang |
QUOTE(Ricky300 @ Jun 27 2015, 10:25 AM) That's what I told my friend too. By right, rental should go to the rental owner accordingly, it doesn't matter the Will stated whether the rental has be to apportioned or not, because rental of property goes to property owner.However he was being told that, the WILL didn't state that rental has to be apportioned.......He seek advises (ain't sure if he/she is a lawyer), the advisor told him that he can't do much in this case. But I can see where the advisor come from to give such advise, as 1. legal cost may outweight the income. 2. Making a damage on the relation with the other 2/3 owner, which won't help to solve the situation. |
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Jun 30 2015, 10:50 PM
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If your friend really is 1/3 owner of the property, the best advice is to ask your friend dispose the property. Either sell to the other owner and cash out.
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