what to do about property that is in both mine and sisters name

Question

My sister and I have 20 acres in Poolville, TX. The property was bought by my parents in the 80's and put in our names then. I have since had a home built on the 20 acres next to my parents house and have lived there for the past 28 years. My parents have passed away and now my sister wants her half of the property sold. Since my parents passed, she and I had the property surveyed and replatted to show 50/50. We have each been receiving income on our 50% of the surveyed property and each have paid our half of the taxes. Now my sister feels like it is not a fair split and wants to have an appraisal on all the land and sell so that she can have 1/2 the value of the property. My question is if I am taken to court can I be made to sell my home that I have paid taxes on in order to satisfy my sisters want for half the cash value of all of the property?

Thomas S. · Answer

This is not going to work out in your favour. If the entire property, all land and buildings, are under joint ownership then she legally owns 50% of the total value. Unless there is something you are not saying about the legal registration of the property.The courts will need to determine what value (cash) you have contributed to the structures and financial upkeep of the entire property (taxes etc.) as well as your sisters and your parents contribution. These numbers will all factor into determining the value of your sisters inheritance.In the end the courts will decide the financial split and you and your sister will need to work out how she will receive her financial portion if you wish to personally hold on to any or all of it. You will be required to make her financially whole. Right now there is no balance, you control far more than 50% of the asset. This is similar to a divorce situation where assets are being divided. In many cases all assets need to be liquidated if one party is not financially able to buy out the other.

Jason Hall · Answer

Sorry you're having issues. Money and family is frequently a terrible mix. Why not owner finance or get a mortgage for her interest in the property? You can rent out the houses and use the proceeds to pay her over time for her interest in the property. Or, obtain a bank loan, apply the proceeds from the rentals to the mortgage and your sister gets the disbursement from the bank for her interest. Basically, you need to find a way to buy her out. As far as the property taxes, whether you are entitled to reimbursement for her share of the taxes will depend on how the title is held.

Vickie Bruce · Answer

An update on my situation. I hired an attorney to help me with the property issue but she was of no help. She took my money and only sent a letter to my sister telling her that I wanted to settle the estate. My sister refused to respond and next my attorney wanted another 2500.00 to continue with my case. Im at a loss at what to do.

Vickie Bruce · Answer

My late husband and I built my home with our money back in 1993 but my parents bought their home and had it moved here.

Vickie Bruce · Answer

My late husband and I built my home with our money back in 1993 but my parents bought their home and had it moved here.

Thomas S. · Answer

Your parents paid for the home you son lives in, who paid for your house and who is living in your parents original home.

Vickie Bruce · Answer

Thank you very much for the responses. This gives me an idea of what I need to prepare for. Any idea what proof of contributions I have made would be? I have some photos of improvements but never thought she would include my home since she didnt help build it.

Vickie Bruce · Answer

I am so grateful for the responses. I will be getting legal council but waiting for appointment. I wasn't very clear before but the property is 20 acres. It is in both mine and my sisters name jointly and always has been. My parents built a home and invited my sister and I to move out here with our kids and build homes. I did so, but my sister did not. As my oldest son grew up, my parents even purchased a home for him and had it moved on to the property as well. These 3 homes are on one side of the property. As time passed they purchased 2 more homes (Mobile) and put them on the opposite side of the property and rented them out for income. When my mom passed, my sister and I decided to divide the property in half. Mine, my son and my parents home were on my half and the other rent homes were on her half. She agreed and we had it surveyed and recorded but not changed names on deed because sister kept dragging her feet. She was recieving 1100.00 per month in rent from the mobile homes so she was happy. Her renters moved and she was no longer getting 1100.00 per month and decided then that the split was not fair. In the split her part was 10.79 ACRES and mine was 9.38 acres. I have always paid 50% of taxes and my parents paid the other half until they passed. Then my sister began paying the other half. Our tax bills go to 2 seperate addresses. My 50% to my house and her 50% to her house in another city.I hope this is a little more clear and again I appreciate any help.

Justin Kane · Answer

If you dont hold title exclusively or >51% then she has all legal precedence but if its a even 50/50 split she cant force you to do anything without your consent as well. You should be speaking to legal council about this.

Charley C. · Answer

Sounds like it, why not propose moving the boundary lines a bit. If she is still hung up on selling the home you paid for with your money? or was it your parents money? lot more to this story I can tell. Sounds like she is after your home and trying to kick you out. Ask your lawyer about adverse possession and also if you have receipts and proof you paid for the home, see if that would make a difference too. Good luck and wow, and sorry it happened to you.