Author Topic: To Inherit or Not to Inherit  (Read 8985 times)

ZMonet

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Re: To Inherit or Not to Inherit
« Reply #100 on: August 24, 2019, 08:56:30 PM »
Any update Retiring_early_in_EastTN?  I'm really curious if there are any more twists and turns to the story.  Really hoping you get paid the money due to your mother's estate.

Retiring_early_in_EastTN

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Re: To Inherit or Not to Inherit
« Reply #101 on: August 26, 2019, 05:54:39 AM »
Any update Retiring_early_in_EastTN?  I'm really curious if there are any more twists and turns to the story.  Really hoping you get paid the money due to your mother's estate.

Thank you for asking. The last interaction I have had with any of it was a week ago today with my lawyer who said he would reach out to their lawyer and go over the informal accounting we received. I'm very curious what is going on as well. I'm assuming the ball is in their court. My biggest question is will they do an appraisal of the house or just do the assumption of the 100k. Whatever it is I know they are not happy campers.

dragoncar

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Re: To Inherit or Not to Inherit
« Reply #102 on: August 26, 2019, 01:05:33 PM »
Any update Retiring_early_in_EastTN?  I'm really curious if there are any more twists and turns to the story.  Really hoping you get paid the money due to your mother's estate.

Thank you for asking. The last interaction I have had with any of it was a week ago today with my lawyer who said he would reach out to their lawyer and go over the informal accounting we received. I'm very curious what is going on as well. I'm assuming the ball is in their court. My biggest question is will they do an appraisal of the house or just do the assumption of the 100k. Whatever it is I know they are not happy campers.

Just be aware that appraisal is not a science.  Itís supposed to be impartial, but practically speaking an appraiser is likely to skew the result in the direction favorable to the person writing their check

Goldielocks

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Re: To Inherit or Not to Inherit
« Reply #103 on: August 26, 2019, 01:09:54 PM »
Any update Retiring_early_in_EastTN?  I'm really curious if there are any more twists and turns to the story.  Really hoping you get paid the money due to your mother's estate.

Thank you for asking. The last interaction I have had with any of it was a week ago today with my lawyer who said he would reach out to their lawyer and go over the informal accounting we received. I'm very curious what is going on as well. I'm assuming the ball is in their court. My biggest question is will they do an appraisal of the house or just do the assumption of the 100k. Whatever it is I know they are not happy campers.

Just be aware that appraisal is not a science.  Itís supposed to be impartial, but practically speaking an appraiser is likely to skew the result in the direction favorable to the person writing their check
Good point... OP - would you consider getting the appraisal and taking the cost out of the amounts paid / waived?  You could always offer to arrange it for your aunt / relatives to get things moving.   Or you could just sit as they are the ones wanting to get full title and you don't really care about the timing.

Villanelle

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Re: To Inherit or Not to Inherit
« Reply #104 on: August 26, 2019, 02:57:55 PM »
Given that you are paying lawyers and that appraisals cost money, I'd tell them to just wait to pay until they sold, assuming they do plan an open market sale. You aren't in a hurry.  Save the money on an estimate and just take your share when it actually sells.   It not, I'd see if I could determine an approximate FMV on my own (us actual comps sold, not Zillow's Zestimate!) and if that was close to the number they were offering, I'd just go with that.  It doesn't sound like it would be a difference of tens of thousands or even thousands of dollars in your pocket. 

But given that they have been shady, if you think what they are offering isn't fair, then push for the estimator, but I'd want to hire one myself and be the one communicating with them if at all possible.  It's very easy for someone to mention to the estimator that they want a low number, and then presto!  He magically goes on the lower end of the scale.  That means you ideally don't even want family to be the one letting him/her in to the house, if avoidable. 

Pizzabrewer

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Re: To Inherit or Not to Inherit
« Reply #105 on: September 18, 2019, 01:48:19 PM »
Any updates you can share?  Thanks.

Retiring_early_in_EastTN

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Re: To Inherit or Not to Inherit
« Reply #106 on: September 19, 2019, 08:39:24 AM »
Hi! Thanks for asking! No update as of now. My lawyer reached out to their lawyer for clarification on the accounting page. I'm curious to see what they want to do going forward. I have checked the city and county property taxes online and everything is paid up to date.