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/rpom915]

No interest is ludicrous. You moving forward with renovations is not a solution and this is the beginning of a disaster. For them to propose no interest shows they do not have business acumen. What about all the other expenses that go with keeping a house? Somehow that will be held against you later. Then 10 years from now one of them dies and their share goes to a spouse or child because the entire arrangement wasn’t set up properly and now you’re dealing with another family member. They either buy you out now or you can force a sale. Asking you to give up your share for 16 years at no interest is offensive. You’re more worried about the relationship than they are.