So apparently I own a house and it's being sold today... What?

snarkypants · 5 months

1/3 of this property is yours. Your grandfather gave it to you in his will. Your father is instead splitting the proceeds between he and his brother 50/50.

If I were you, I would decide if you are going to stand up to your father once and for all, or never. You are 26, that's old enough to tell your father you expect a portion of the inheritance willed to you by your grandfather.

I no longer allow people to walk all over me. I would tell him no, I would also call my uncle and tell him no. I would find out the name of the real estate company, the selling agent, the buyers agent, and the title company, and I would call them all immediately to find out who i could talk to regarding disbursement of proceeds on the sale of the house. And then I would tell them that as 1/3 owner, i expect a check cut to me and me only for 1/3 of the proceeds, or no signature.

I wouldn't sign ANYTHING until i saw a copy of the closing statement AND the HUD-1 settlement statement documenting a check being cut to me only.

I'm purely speculating here, but your dad is probably going to have you sign a POA form, that allows your dad or an attorney to sign on your behalf at the closing.

reddityeah · 5 months

it does make you part-owner. That's why you have to sign the papers. Did you talk to him? Is he trying to take your money after the sale or is he giving it to you?

ksemel · 5 months

Rental property? Was it being rented out all this time too and there was rental income that needs investigation?

Is there anything going on with your parents or your uncle that they need the money? If someone in your family is unemployed or sick you may want to take this money that you didn't know you had and let your dad have it. Yes, it is yours but that means you can do what you want with it, even if that's to just to sign and move on.

Otherwise, just ask him what's up with this and if he's going to put your share in an account for your down payment. He's your dad, and unless he's been shady this whole time maybe it's just something he never thought about.

sacman · 5 months

For God's sake, don't sign anything yet.

Retain your OWN lawyer. Take all paperwork and information to that lawyer and get that lawyer's independent opinion. Then act on that opinion.

DTDTD · 5 months

If you are a legitimate one-third owner, the title company's attorney that is handling the sale will be giving you a check for one-third of the proceeds of the sale after realtor/attorney/etc. fees are distributed.

Unless you sign something relinquishing your interest in the property.

Try to speak to the closing attorneys, ask how the proceeds are to be disbursed.

sehns · 5 months

Sounds like the OP has already signed, guys.

MudaMudaMuda · 5 months

It sounds like you own 1/3 of the property, you would need to check how it was recorded though.

It also sounds like you should be directing these questions towards your father, you seem to have a good relationship so have you brought up your desire to get a home and if you are getting your "fair" share of the inheritance?

chef_baboon · 5 months

You are legally 1/3 owner (from what you've said). Look up the property on the county property appraiser's website to get the ownership and tax info. Keep in mind though that you haven't been contributing to the taxes+maintenance when you negotiate with your family. I would back-track and remove your burden of the CAM from your selling stake to be fair.

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