Jun 15 2022, 04:39 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 .
I am facing the same situation now. Mother, Brother and me inherits the property from my father.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 .
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.
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