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Hello!
Newbie here.
I am currently living in a house with my mother (single) and her brother (married with kids). My mother and I haven't really been in good terms with her brother (my uncle) for the longest time. I am thinking that the best option for them to split up is to sell the house and divide the sale among the two heirs. However, the other party doesn't want this option since they know that they can't afford to move to a new house with the amount they could have from the sale. They don't want to lower their standards in selecting a new place to live in despite being low in finances.
While our party wants to sell, the other party wants to renovate the house into a duplex. They plan to loan the money for renovation using the land title as collateral. By the way, the land title is still under my grandfather (their father) who passed away in 1997 without leaving a will. In 2013, my grandmother passed away as well. The two heirs just signed an extrajudicial settlement among heirs lately. With that, is it even possible for the other party to use the land title under their father's name as collateral?
Would there be a way to settle this given that the two parties want different things? I intend to move out soon and ideally, I want my mother to come with me because I am the only child she has. I worry that if she comes with me, she won't be able to take her claim from the house and lot that she also has the right to.
Looking forward to your advices.
Thank you!
Newbie here.
I am currently living in a house with my mother (single) and her brother (married with kids). My mother and I haven't really been in good terms with her brother (my uncle) for the longest time. I am thinking that the best option for them to split up is to sell the house and divide the sale among the two heirs. However, the other party doesn't want this option since they know that they can't afford to move to a new house with the amount they could have from the sale. They don't want to lower their standards in selecting a new place to live in despite being low in finances.
While our party wants to sell, the other party wants to renovate the house into a duplex. They plan to loan the money for renovation using the land title as collateral. By the way, the land title is still under my grandfather (their father) who passed away in 1997 without leaving a will. In 2013, my grandmother passed away as well. The two heirs just signed an extrajudicial settlement among heirs lately. With that, is it even possible for the other party to use the land title under their father's name as collateral?
Would there be a way to settle this given that the two parties want different things? I intend to move out soon and ideally, I want my mother to come with me because I am the only child she has. I worry that if she comes with me, she won't be able to take her claim from the house and lot that she also has the right to.
Looking forward to your advices.
Thank you!
