- May 6, 2024
- Posted by: legaleseblogger
- Category: Related News
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# Considering Asking Brother to Split Rent or Buy Out
Mom passed away many years ago, leaving a 100k inheritance that me and my brother used to purchase a duplex together in 2015. Since then, I have drifted away and haven’t resided in the duplex since 2018, allowing my brother to essentially live mortgage-free by renting out the unit.
Now, as I am married and recently became a parent, I am faced with a dilemma. Should I ask my brother to start splitting the rent payments equally with me and repay me 50% of the monthly proceeds? Despite never asking him for any financial contribution since 2015, the current circumstances may warrant a change in our arrangement.
Alternatively, I could propose that my brother buy me out of our shared property. Knowing that he now holds a stable job with a good income and the property value has doubled since our purchase, this option may be beneficial for both parties.
It has been 4 or 5 years since my brother has been living rent-free, reaping the benefits of the mortgage payments. If we were to sell the property, I would only receive a share of the proceeds. I am at a crossroads and seeking advice on the best course of action.
## How AI Legalese Decoder Can Help
AI Legalese Decoder can assist by analyzing the legal implications of both options. It can provide clarity on the rights and responsibilities of each party, offer insights on the potential financial outcomes of splitting rent versus selling the property, and recommend the most favorable approach based on legal considerations. This tool can empower you to make an informed decision that aligns with your current situation and future goals.
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****** just grabbed a
Why not let him choose. Say, I’m trying to get my finances in order and need to talk to you about the house. Would it be better for you to (option 1) or (option 2). I’m open to either…