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 Advice on inherited property by deceased

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TScybercrew
post Jun 15 2022, 12:49 PM, updated 4y ago

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Hi all,

As per above, the property is belongs to my uncle, who deceased 2 years back. Its a lease hold property which the tenure gonna end soon.

so all the 4 sons are inherits the property from the father. 2 of the sons ( A and B) planning to refinance the house.

so the other 2 sons (C and D) are fine with it provided they get their portion of money. So they are ok to sell off their portion to the other 2.

the question now is, in order to do the refinance, is it possible for the A and B to take up the loan without involving C and D ?

is the ownership change from A, B , C and D shd happen prior to refinancing the house by A and B only ?

Is it possible to engage a lawyer, to ensure the A and B will properly pay the portion when C and D sell off their percentage ?





Note : A and B are not trustworthy, hence the hesitation on how to proceed with this.


The bottom line is C and D is ok letting go their portion, but don't wanna conned by A and B. Please advise if there are better suggestions .
mini orchard
post Jun 15 2022, 01:27 PM

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QUOTE(cybercrew @ Jun 15 2022, 12:49 PM)
Hi all,

As per above, the property is belongs to my uncle, who deceased 2 years back. Its a lease hold property which the tenure gonna end soon.

so all the 4 sons are inherits the property from the father. 2 of the sons ( A and B) planning to refinance the house.

so the other 2 sons (C and D) are fine with it provided they get their portion of money. So they are ok to sell off their portion to the other 2.

the question now is, in order to do the refinance, is it possible for the A and B to take up the loan without involving C and D ?

is the ownership change from A, B , C and D shd happen prior to refinancing the house by A and B only ?

Is it possible to engage a lawyer, to ensure the A and B will properly pay the portion when C and D sell off their percentage ?
Note : A and B are not trustworthy, hence the hesitation on how to proceed with this.
The bottom line is  C and D is ok letting go their portion, but don't wanna conned by A and B. Please advise if there are better suggestions .
*
Appoint a lawyer to handle and he can answer all the questions.
penang23
post Jun 15 2022, 04:39 PM

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QUOTE(cybercrew @ Jun 15 2022, 12:49 PM)
Hi all,

As per above, the property is belongs to my uncle, who deceased 2 years back. Its a lease hold property which the tenure gonna end soon.

so all the 4 sons are inherits the property from the father. 2 of the sons ( A and B) planning to refinance the house.

so the other 2 sons (C and D) are fine with it provided they get their portion of money. So they are ok to sell off their portion to the other 2.

the question now is, in order to do the refinance, is it possible for the A and B to take up the loan without involving C and D ?

is the ownership change from A, B , C and D shd happen prior to refinancing the house by A and B only ?

Is it possible to engage a lawyer, to ensure the A and B will properly pay the portion when C and D sell off their percentage ?
Note : A and B are not trustworthy, hence the hesitation on how to proceed with this.
The bottom line is  C and D is ok letting go their portion, but don't wanna conned by A and B. Please advise if there are better suggestions .
*
I am facing the same situation now. Mother, Brother and me inherits the property from my father.

Two options:
1) (Recommended) Sell this property openly to the market price. Each A, B, C and D got their option equally - close case forever.
2) A and B sell their Portion to C and D. I think should be workable. For my case, I have no issue buy my mum and my brother portion. All money will go through Lawyer and state clearly in the SPA.
nihility
post Jun 15 2022, 05:02 PM

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QUOTE(cybercrew @ Jun 15 2022, 12:49 PM)
Hi all,

As per above, the property is belongs to my uncle, who deceased 2 years back. Its a lease hold property which the tenure gonna end soon.

so all the 4 sons are inherits the property from the father. 2 of the sons ( A and B) planning to refinance the house.

so the other 2 sons (C and D) are fine with it provided they get their portion of money. So they are ok to sell off their portion to the other 2.

the question now is, in order to do the refinance, is it possible for the A and B to take up the loan without involving C and D ?

is the ownership change from A, B , C and D shd happen prior to refinancing the house by A and B only ?

Is it possible to engage a lawyer, to ensure the A and B will properly pay the portion when C and D sell off their percentage ?
Note : A and B are not trustworthy, hence the hesitation on how to proceed with this.
The bottom line is  C and D is ok letting go their portion, but don't wanna conned by A and B. Please advise if there are better suggestions .
*
If the property ownership are legally under A,B,C & D, I doubt A&B can refinance the house without the C&D consent. Financial institution will not allowed it. The ownership change must complete first prior to refinancing if A&B do not want to involve C&D.

The trust issue in between the family the most difficult to deal with. To be on the safe side, engage a lawyer to get the disposal of C&D to A&B done professionally. No need to save this money, pay the lawyer fees to buy a comfort on the transaction.
metalfire
post Jun 15 2022, 05:06 PM

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get a lawyer to handle all the above.
melz84
post Jun 15 2022, 05:09 PM

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you probably need a conveyancer to help you with this.
TScybercrew
post Jun 15 2022, 11:50 PM

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Thanks alot for all the inputs..

Another question, should the deceased written a will to mention
It goes to all sons A,B,C and D.
Is it possible for A and B proceed to Amanah Raya or other institutions to change the inheritance to only A and B.

My main doubt here , will the govt agencies know about will without the children of deceased revealing about it?

Is there some kind of Centralize entity they will cross check to see if will exists?



mini orchard
post Jun 16 2022, 06:37 AM

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QUOTE(cybercrew @ Jun 15 2022, 11:50 PM)
Thanks alot for all the inputs..

Another question, should the deceased written a will to mention
It goes to all sons A,B,C and D.
Is it possible for A and B proceed to Amanah Raya or other institutions to change the inheritance to only A and B.

My main doubt here , will the govt agencies know about will without the  children of deceased revealing about it?

Is there some kind of Centralize entity they  will cross check to see if will exists?
*
If the father have Willed the property to the 4 sons, follow the Will. That is his wish as the father NO MATTER what the others think whether he is right or wrong.

Dont go around to screw up the Will and if things get complicated, it can become a police case (cheating).

Each son take his portion money and go their own way.

hanhanhan
post Jun 25 2022, 08:55 AM

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From: Kuala Lumpur


QUOTE(cybercrew @ Jun 15 2022, 11:50 PM)
Thanks alot for all the inputs..

Another question, should the deceased written a will to mention
It goes to all sons A,B,C and D.
Is it possible for A and B proceed to Amanah Raya or other institutions to change the inheritance to only A and B.

My main doubt here , will the govt agencies know about will without the  children of deceased revealing about it?

Is there some kind of Centralize entity they  will cross check to see if will exists?
*
can, provided if C & D agree in writing to renounce their inheritance.

if change to A & B without C & D knowledge/consent, then no.

 

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