QUOTE(WaCKy-Angel @ May 21 2022, 02:16 PM)
1. dont borrow u mah nego with your bro & mom pay monthly installment lor
3. normal sell/buy property fees, with some discount coz u only need to pay tax to buy your bro's 1/3 portion.
QUOTE(Michaelbyz23 @ May 21 2022, 11:07 PM)
Yes, you need to engage a lawyer.
QUOTE(mini orchard @ May 22 2022, 06:33 AM)
If family members are talking or nego about money matters, it is adviseable to engage a third party as a witness to complete the transactions .... aka lawyer.
Each member shall bear their portion of the total fees.
Latest update and add on my true story here, if you guys have other thoughts can share we me, help needed to settle family issue.
True Story: Father Deceased. Cash divided equally between A (Mum), B(Brother), and C (Me).
But after 10 years, A and B spend all the money and want to sell out the final property from deceased father to cash out ASAP.
Current Property Ownership: (market value ~400K)
A (Mum)= 50%
B (Brother)= 25%
C (Me) = 25 %
Note: A love to gamble, B is jobless : (.
Question: I wish to buy the portion from my Mum (200K) and my brother (100K) is it possible to pay off by cash using installment method like below?
1) Mum - 200K
To pay her 100K immediately, remanding 100K will be pay off by installment method ( RM 833 x 12 mths x 10 years). I believe she will spend all the money after 5 years, just to ensure she still have money after 10 years down the road.
2) My brother – pay 100K to buy this portion.
I ask them to sell the property buy they don’t want,
B wanted to refinance but no bank want to offer him any loan.
They want to get the money out from this property.
Wish to settle this issue.