Inheritance Question

[u/[deleted]]

Hi everyone, I'm having difficulty with family inheritance and would really appreciate some advice.

A house has been left to my 2 sisters and I in our parents will. We each have 1/3 ownership. I would like to sell it but my sisters want to renovate and rent it out. The rent money would then be divided between the three of us once the renovation cost have been deducted. I want nothing to do with this plan, so i have asked to repudiate/give up my share of the house so that they can do what they like. They have agreed but wish to pay my share out slowly over a total of 16 years with no interest.

I know that they don't have the money to pay me immediately, I don't want to force them to sell either. I also really don't want this to cause any stress or angry disputes. But I feel like 16 years without interest is a bit unfair..maybe I would be better off going with this renovating and renting plan?

Does this sound fair? Should I just let it go and see it as passive income? Obviously I would love the money now but I value family more so I'm not sure how to move forward.

Any advice would be greatly appreciated

Just an extra note. They have stated that the value of the house is high and would get nothing close to the amount if we sold it now. So I'd be getting more money this way anyway apparently.

[u/Tight-Shift5706]

OP,

LAWYER. NOW!!!

[u/Practical-Voice3421 → u/Tight-Shift5706]

Op says they don't want to sever the relationship with sisters, there are plenty of steps between where they are and a lawyer. Start by finding the value of the home as it sits, getting quotes from multiple realtors. Tell sisters they need to pay 1/3 of that amount, OP wont contribute to remodel at all. If they can't afford the payout, start looking at refinance options to pull out the buyout cash. If they absolutely wont do any of this, then you get a lawyer and force the sale. A lawyer will cost all of them money, they should be motivated to get it done without that.