Property dispute advice

Discussion in 'Legal Issues' started by Edsullivan, 13th Feb, 2020.

Join Australia's most dynamic and respected property investment community
  1. Edsullivan

    Edsullivan Member

    Joined:
    13th Feb, 2020
    Posts:
    6
    Location:
    Victoria
    Thanks for all the advice. Appreciate everyone’s thoughts.

    We’re both the executors.

    I can’t deny that my share of the property is an amount of money that would be life changing for me. I would be able to cut back at work and spend more time with my family.

    Marg4000 hits the nail on the head.

    Neither of us has the funds to renovate the property to get it ready for rent. I have been sorting out all the legal stuff and my brother has not really been involved, so I would welcome a final decision and a break from the stress of dealing with it all.
     
    significance likes this.
  2. Depreciator

    Depreciator Well-Known Member

    Joined:
    15th Jun, 2015
    Posts:
    1,963
    Location:
    Sydney
    He must have an emotional attachment to the house. Tricky when that happens.
    So he won't/can't stump up money to fix it now and it can't be rented out as is.
    He's planning to move to the UK 'in the next couple of years' and then he'll need to establish himself and get a mortgage. That's unlikely to happen because it will likely be derelict by then.
    Even if you can come to some sort of mediated agreement to retain the property jointly, that will break down.
    What would happen if you left it as is and stopped paying council tax etc? Would it then be sold to pay for those taxes and the remainder given to you and your brother?
     
  3. TMNT

    TMNT Well-Known Member

    Joined:
    23rd Jul, 2015
    Posts:
    5,572
    Location:
    Melbourne
    good luck! I am super close with my sibling, and we would never let anything, let alone money get between us, and if it did, it would kill me

    Hope you sort it out,
     

Property Investors! Ready to Pay Less Tax? Estimate how much Property Depreciation you can claim on your Investment Property. Washington Brown's calculator is the first calculator to draw on real properties to determine an accurate estimate.