OfflineHello everyone, I have a question? My grandmother sold me and my aunt her half of the property, my mother gave me a third of her property, which makes me and my aunt both have a half. now here is the confusing part, my grandmother is taking it back, cause my aunt is messing up big time...
Now how can i purchase all of my grandmother part, and can she sell it to me and take away my aunts third share of the property. Does this make sense.
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I'm not following this scenario.
It feels like one of those math problems in school about if the train traveled so fast with so many stops etc etc.
I stunk at those so I probably shouldnt even be trying to make sense of this but this is how I interpreted it:
Your grandmother owned 1/2 and your mom owned 1/2.
your grandmother sold her 1/2 to you and your aunt, giving each of you 1/4 ownership of the property.
Your Mom gives you an additional 1/3 of her share - I dont see how that makes your aunts share equal 1/2.
Is there only one property in question here?
Sorry not to have been able to help - hope someone else dives in here!
www.adeptpropertiesllc.com
my story:
http://www.deangraziosi.com/node/10404
ok
grandmother = 1/2
mom and aunt shared a 1/2
now. mom donated her share to me, now my aunt and I shares a 1/2
grandmother sold her 1/2 to my aunt and I. now my aunt and I share a 1/2. in the contract that it stated that if one of us forfeits my grandmother 1/2 converts back to my grandmother. I want to keep the house, use it as a investment property. Now question is. if the house converts back, that will leave me and my aunt 1/3 of the property correct. My aunts share that her and my mother shared was given to her by there late father, how or is it possible for my grandmother, since the whole house is in her name just give me the whole property?
Sounds like you own 1/2 and your Aunt ownes 1/2 now. If your grandmother takes back the half that she sold to you and your Aunt, She would own 1/2, you would own 1/4 and your Aunt would own 1/4. If you were to buy your grandmother out, you would have 3/4 and your Aunt would still have 1/4.
Al
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Okay let's see if this is correct(even if it is there's still fuzzy math going on over there).
grandma-1/2 = .50 (sells to grandson and daughter)
mother-1/4 = .25 (ownership)(donates to son)
aunt-1/4 = .25 (ownership)
son-1/4 =.25 (ownership)+ 1/4 from mother=
son-1/2 =.50 (ownership)
mother and aunt shares = .50, or 1/2
mother gives son her half(.25)of property which in turn now makes him a 1/2(.50)owner
So now son and auntie now are both half owners of the property....until, auntie screws up and grandma decides to take her half back which would leave you with 1/2 and your auntie with what she started off with 1/4. Seems the smart thing to do here is to try to buy the 1/4 from your auntie and asked grans to sell you her 1/4. But you did say that she took 1/2 back since your auntie breached the contract didnt you? But even so, like I said earlier there's a bit of fuzzy math going on here because if all things were added up correctly it would look like this..... 1 1/4 property.
Bryant Slade
the math is a little fuzzy to me as well.
ask your grandmother for the half she's taking back from your aunt, to sell to you.
"I will NOT BE BROKE! ANYMORE!"
In the name of Allah, the Beneficent,
the Merciful.
22.He is Allah besides Whom there is no God: The Knower of the unseen and the seen; He is the Beneficent, the Merciful.
23. He is Allah besides Whom there is no God: the King, the Holy, the Author of Peace,the Granter of Security, Guardian over all, the Mighty, the Supreme, the Possessor of greatness. Glory be to Allah from that which they set up (with Him)!
24. He is Allah: the Creator, the Maker, the Fashioner: His are the most beautiful names. Whatever is in the heavens and the earth declares His glory: and He is the Mighty, the Wise.
I love these forums and how everyone is helpful. I love this site
Mike
Sounds like you should just offer to buy your aunts 1/2 from her with your grandmothers blessing, who can tell your aunt that if she doesnt sell it to you she will loose it anyway.
sound good?
but again my aunt will still have the inhertiance 1/4 right. how do i get that from her.
Buy your aunt out for her portion of the property. Like other DGer said get the portion that your grandmother is supposedly going to take back from your aunt, with your grandmother's blessing, from your aunt before she actually takes it back. You're all equitable partners in the property; if one partner wants a larger shared portion of the property they all own together than the one partner has to buy the other partner out to increase their share in the property or the partners can vote a partner out dependent upon the contract between them.
"I will NOT BE BROKE! ANYMORE!"
In the name of Allah, the Beneficent,
the Merciful.
22.He is Allah besides Whom there is no God: The Knower of the unseen and the seen; He is the Beneficent, the Merciful.
23. He is Allah besides Whom there is no God: the King, the Holy, the Author of Peace,the Granter of Security, Guardian over all, the Mighty, the Supreme, the Possessor of greatness. Glory be to Allah from that which they set up (with Him)!
24. He is Allah: the Creator, the Maker, the Fashioner: His are the most beautiful names. Whatever is in the heavens and the earth declares His glory: and He is the Mighty, the Wise.
If the deed states that your grandmother can take back your Aunt's 1/2. you're out of luck. If you have a good relationship with your grandmother then I would explain that you want to own the house outright and come to some type of purchase agreement. That is your only option if that is what it states on the deed. Otherwise, it sounds like your grandmother has every right to your 1/2 of the property.
KimmyJ
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