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Land sales and family #6663965
11/12/19 06:52 PM
11/12/19 06:52 PM
Joined: Jan 2014
Posts: 1,326
NW MO
T
TurkeyTime Offline OP
trapper
TurkeyTime  Offline OP
trapper
T

Joined: Jan 2014
Posts: 1,326
NW MO
More power to all of you that have had it go smoothly. Three years ago I had posted on here about a sale that I thought was going to go through. Grandparents and I agreed on the price, it was fair, and I made sure it was fair. Never did go through and never will. 2 non-local family members would not sign. They have no clue about the value and only hear of the highest prices that occur when two rich people are bidding at auction. Created a divide in the family. I have avoided talking to one of the two for three years as I knew nothing good was going to come from it. I knew he was waiting for an opportunity. Today he was able to lay the ambush. Another family member was present so he kept it civil. Told me that if I ever had any questions about why he did not sign to let him know and he would be glad to talk. Repeated himself again and I kept it at OK. Now I would be happy to civilly explain why he is in the wrong but there is no way that would happen. That old saying about not arguing with the ignorant as they will bring you down to their level and beat you with experience really applies here.

Re: Land sales and family [Re: TurkeyTime] #6663989
11/12/19 07:18 PM
11/12/19 07:18 PM
Joined: Sep 2012
Posts: 4,794
West Michigan
G
Getting There Offline
trapper
Getting There  Offline
trapper
G

Joined: Sep 2012
Posts: 4,794
West Michigan
I try and not do business with family, but you and your grandparents had come to an agreement. It should have been honored in my book


To Old
U.S. Army 60-63 SGT.
Re: Land sales and family [Re: TurkeyTime] #6664037
11/12/19 07:52 PM
11/12/19 07:52 PM
Joined: Jan 2018
Posts: 459
Southern Il.
B
Bowwhitetail Offline
trapper
Bowwhitetail  Offline
trapper
B

Joined: Jan 2018
Posts: 459
Southern Il.
Doing business with friends and family is usually not a good thing

Re: Land sales and family [Re: TurkeyTime] #6664050
11/12/19 08:09 PM
11/12/19 08:09 PM
Joined: Jun 2012
Posts: 1,386
KY.usa
rex123 Offline
trapper
rex123  Offline
trapper

Joined: Jun 2012
Posts: 1,386
KY.usa
Always get every thing in writing.

Re: Land sales and family [Re: TurkeyTime] #6664069
11/12/19 08:28 PM
11/12/19 08:28 PM
Joined: Mar 2013
Posts: 629
Western Wisconsin
T
TraderVic Offline
trapper
TraderVic  Offline
trapper
T

Joined: Mar 2013
Posts: 629
Western Wisconsin
Sorry to hear your planned land transfer "went south". Have seen this many times through the years, especially amongst family members. Most frequently it's greed, but not always.
Wish it could be different for you.
Best Regards, Vic

Re: Land sales and family [Re: TurkeyTime] #6664131
11/12/19 09:38 PM
11/12/19 09:38 PM
Joined: Jan 2014
Posts: 1,326
NW MO
T
TurkeyTime Offline OP
trapper
TurkeyTime  Offline OP
trapper
T

Joined: Jan 2014
Posts: 1,326
NW MO
Yes it is greed. We bought a farm from them 15 years ago. 13 years ago my Grandpa asked if I wanted to buy another and I couldn't swing it at the time. He said to let him know when I was ready. So 4 years ago I said we are ready. They had bought this farm years ago from an old lady that sold it to them for 50% of its worth. They decided to pass part of that deal onto us and sell it to us for 70% of what it was worth. To avoid redoing the trust for that farm they had made the mistake of putting all of their kids and spouses on the deed. That is where it went wrong. So two decided it was worth 35% more than the actual value and would not sign.

Re: Land sales and family [Re: TurkeyTime] #6664147
11/12/19 09:50 PM
11/12/19 09:50 PM
Joined: Dec 2006
Posts: 1,646
Moved to Fbks, Ak.
M
martentrapper Online content
trapper
martentrapper  Online Content
trapper
M

Joined: Dec 2006
Posts: 1,646
Moved to Fbks, Ak.
Trusts are managed by trustees for the trustor. Often when trusts are first formed the trustees and trustors are one in the same. That is how my parents trust was set up. As trustors age, they name new trustees. My father passed s few years ago and left my mom as the sole trustee and trustor. About 2 years ago she resigned her trustee ship while she was still cognisant to do so. My sister and I are the trustees now and my mom is the sole trustor.
I assume your grandparents are the trustors and you and the others mentioned are the trustees?
mt

Re: Land sales and family [Re: TurkeyTime] #6664153
11/12/19 09:53 PM
11/12/19 09:53 PM
Joined: Jan 2014
Posts: 1,326
NW MO
T
TurkeyTime Offline OP
trapper
TurkeyTime  Offline OP
trapper
T

Joined: Jan 2014
Posts: 1,326
NW MO
They and two of their children are the trustees. This farm is not in the trust as they didn't want to redo the trust so it is simply a piece of land with 9 people on the deed.

Re: Land sales and family [Re: TurkeyTime] #6664180
11/12/19 10:11 PM
11/12/19 10:11 PM
Joined: Jan 2019
Posts: 1,010
North central Iowa
B
Bob_Iowa Offline
trapper
Bob_Iowa  Offline
trapper
B

Joined: Jan 2019
Posts: 1,010
North central Iowa
Went through something similar except we did get it bought but when it started land was valued around 3000 we offered 3500 to be be more than fair to family, and by the time the relation finally signed the papers land had almost doubled but the deal was set and we were able to buy it for the original price. That was 10 years ago and we still hear about how we took advantage of them.

Re: Land sales and family [Re: TurkeyTime] #6664188
11/12/19 10:15 PM
11/12/19 10:15 PM
Joined: Dec 2007
Posts: 4,798
juneau, alaska
A
alaska viking Offline
"Made it two years not being censored"
alaska viking  Offline
"Made it two years not being censored"
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Joined: Dec 2007
Posts: 4,798
juneau, alaska
Sell it, split it, and be done.


Occasional Wolverine Pincher

Re: Land sales and family [Re: TurkeyTime] #6664191
11/12/19 10:17 PM
11/12/19 10:17 PM
Joined: Dec 2006
Posts: 6,873
East-Central Wisconsin
B
bblwi Offline
trapper
bblwi  Offline
trapper
B

Joined: Dec 2006
Posts: 6,873
East-Central Wisconsin
Why did not each of the parties that could not agree each get an appraiser of their choice and you could then average the values out or use that as a guide. If the owner at the time your grandparent had agreed on a fair price then the other parties do not care to honor his request. As to the discussion recently he stated twice why he did not sign but said nothing about it when you were together. I doubt much that he will change much if at all. If he had something to say he had his chance in my opinion. If you did not get anything in writing from your grandparent it is hard to prove anything and or use that document as evidence to move forward. Family is usually difficult because most things get very subjective instead of objective. Too much other baggage to get rid of that gets in the way of reality.

Bryce

Re: Land sales and family [Re: TurkeyTime] #6664197
11/12/19 10:22 PM
11/12/19 10:22 PM
Joined: Jan 2014
Posts: 1,326
NW MO
T
TurkeyTime Offline OP
trapper
TurkeyTime  Offline OP
trapper
T

Joined: Jan 2014
Posts: 1,326
NW MO
We could have legally made me an 80% owner of the farm and he the 20% owner. I make all the decisions and send him a check every year for his 20% income. Grandma wanted to proceed with that route as she was mad about the deal but I declined to go that route. Of course he would be surprised to hear that.

Re: Land sales and family [Re: TurkeyTime] #6664356
11/13/19 02:40 AM
11/13/19 02:40 AM
Joined: Jan 2007
Posts: 838
Pleasant Prairie, Wisconsin
trapper234 Offline
trapper
trapper234  Offline
trapper

Joined: Jan 2007
Posts: 838
Pleasant Prairie, Wisconsin
I just filed a lawsuit against a once good friend I considered my son. We had a verbal agreement and he ripped me off for $12,000.00. I did everything for this kid and he stuck it to me. Very sad! It will be hard to trust anybody after this.


Life Member WTA
Life Member NRA
Member NTA


Re: Land sales and family [Re: trapper234] #6664358
11/13/19 03:01 AM
11/13/19 03:01 AM
Joined: Jul 2010
Posts: 2,291
American In the Pyrenees; Fran...
S
swift4me Offline
trapper
swift4me  Offline
trapper
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Joined: Jul 2010
Posts: 2,291
American In the Pyrenees; Fran...
Sorry to hear about it....but my guess is that it will come back around to him one way or another.

Integrity seems as rare as common sense lately.

Pete

Re: Land sales and family [Re: TurkeyTime] #6664435
11/13/19 07:46 AM
11/13/19 07:46 AM
Joined: Jan 2012
Posts: 2,570
I70@OH/IN
OhioBoy Offline
trapper
OhioBoy  Offline
trapper

Joined: Jan 2012
Posts: 2,570
I70@OH/IN
This would have put you in a position to do something about it. Yes you send him a check for the 20% income but he owes for 20% of the costs too. Thats a 20% off coupon to drive him out. New combine? Yep. Hey I need my 20%. New Barn? Yep. Hey I need my 20%. New Truck? Yep. Hey I need my 20%.

Your 80% owner making business decisions. No one says the business has to be successful. Make it so its not and they want to sell you the 20% of it they own.

When someones playing dirty you have to beat them at their own game.

I'm not really that way but if what you say is true... and Grandma didn't agree with what they were doing with her land... then they are dead wrong and can pound salt. Hey I need 20% for the cost of that salt.

Originally Posted by TurkeyTime
We could have legally made me an 80% owner of the farm and he the 20% owner. I make all the decisions and send him a check every year for his 20% income. Grandma wanted to proceed with that route as she was mad about the deal but I declined to go that route. Of course he would be surprised to hear that.


Re: Land sales and family [Re: TurkeyTime] #6664476
11/13/19 08:34 AM
11/13/19 08:34 AM
Joined: May 2014
Posts: 4,826
Southwest Michigan
M
Michigan Trappin Offline
trapper
Michigan Trappin  Offline
trapper
M

Joined: May 2014
Posts: 4,826
Southwest Michigan
Yep have 3 cabins on a lake in northern Michigan that are in trust for my wife and her 2 sisters

Itís going to be a total cluster when they pass

Iím the only one with skills and knowledge to do maintenance

The one sister and husband are some of the greediest people I have ever met

The other sister is on husband #4 is as lazy as they come

Told the wife ďjust plan on the cabins being sold or falling apart after her folks passĒ

I asked the in laws to please put in the trust that a small fee of $20 be paid per night when anyone stays at cabins to help cover taxes utilities and maintenance in to the trust. But donít know yet Iíd they did

We paid the taxes on them a few times when they had some financial difficulties, they would even approach the other sisters as. It wouldnít have happened

Point being, families can suck when it comes to business, money and land


Every day is a gift from GOD, don't waste it!!

If they have plenty of food, give them something interesting to smell
Re: Land sales and family [Re: TurkeyTime] #6664480
11/13/19 08:37 AM
11/13/19 08:37 AM
Joined: May 2010
Posts: 26,645
potter co. p.a.
P
pcr2 Offline
"Twerker"
pcr2  Offline
"Twerker"
P

Joined: May 2010
Posts: 26,645
potter co. p.a.
only son and grandson on my dads side--one lucky - and these posts reinforce it.


Head greenskeeper at Elno's 5 hole golf course and yatch club.

Hickory Garden Tradin Post --now open

PA life #413
Re: Land sales and family [Re: TurkeyTime] #6664488
11/13/19 08:45 AM
11/13/19 08:45 AM
Joined: Feb 2013
Posts: 1,701
Ohio
Ronaround Offline
trapper
Ronaround  Offline
trapper

Joined: Feb 2013
Posts: 1,701
Ohio
And the moral of the story as you read is the Lazy, self loathing, greedy seem to win out 90%of the time.Why is that ?

Re: Land sales and family [Re: TurkeyTime] #6664492
11/13/19 08:54 AM
11/13/19 08:54 AM
Joined: Sep 2011
Posts: 328
IL
G
goatman Offline
trapper
goatman  Offline
trapper
G

Joined: Sep 2011
Posts: 328
IL
Anyone who's name is on the deed can demand a sale. Do it and buy it.

Re: Land sales and family [Re: goatman] #6664509
11/13/19 09:11 AM
11/13/19 09:11 AM
Joined: Feb 2011
Posts: 1,326
SE Kansas
K
K52 Online content
trapper
K52  Online Content
trapper
K

Joined: Feb 2011
Posts: 1,326
SE Kansas
Originally Posted by goatman
Anyone who's name is on the deed can demand a sale. Do it and buy it.


I don't think his name is on the deed.

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