This is an abbreviated soap opera: There's a house that I'm interested in purchasing; however, there are five interests in the property: 1/2 interest, 1/8, 1/8, 1/8, and 1/8. The first owner of the home had a debt she couldn't repay so she gave her half interest to the fellow she owed money to while her grandkids owned the remaining interests.
The problem is, one of the grandkids has been causing a stink ever since his ownership. He keeps all of the rents that the house produces and won't share with the other interests. Obviously, the poor 1/2 interest fellow feels especially screwed while he has to pay for the property taxes because he doesn't want to lose his stake.
He wants to sell to me, however, we're not sure how to proceed. The other three interests are willing to be paid off their interests.
What should he do? Any advice is greatly appreciated!
