"My brother lives in our hometown where the house in question is located, has no children, and is unmarried. I have relocated to an equally desirable and expensive town north of where we grew up, am married, and have one small child (17 months old). I own my home, and we have a mortgage with a high interest rate. My brother is renting from a friend but has recently gotten approved for a home loan and is looking to buy a home in our hometown."
"But during our last visit, my brother told me he doesn't plan to sell the house, he wants to keep it. He does not feel that he should have to buy me out. He said he does not plan to live in it or raise a family. In fact, he didn't say exactly what his plan would be for the property. I was shocked. He was very adamant that he is entitled to the house."
Parents are aging and own a paid-off home in a very desirable town. Two siblings in their 30s remain close. One sibling relocated, is married, and has a young child, owns a home with a high-interest mortgage. The other sibling lives locally, is unmarried, childless, and renting but approved for a mortgage and seeking to buy nearby. The local sibling insists on keeping the parental home and refuses to buy out the other sibling, without specifying future plans for the property. The distant sibling expects an equal sale and split and worries about fairness, family conflict, and legal recourse. A $4 million generational skipping trust aided a down payment.
Read at Slate Magazine
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