Jun 15 2022, 05:02 PM
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. 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 .
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.
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