Land sales and family

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.

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

Doing business with friends and family is usually not a good thing

Always get every thing in writing.

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

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.

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

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.

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.

Sell it, split it, and be done.

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

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.

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.

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

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.

Yep have 3 cabins on a lake in northern Michigan that are in trust for my wife and her 2 sisters

It’s going to be a total cluster when they pass

I’m 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 “just plan on the cabins being sold or falling apart after her folks pass”

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 don’t know yet I’d 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 wouldn’t have happened

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

only son and grandson on my dads side--one lucky - and these posts reinforce it.

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 ?

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.

And that would be for market value. Not for the deal his grandparents wanted to give him. Most likely why the others wouldn't agree to do it. Hence the problem.

I see it coming when my Dad dies, brother has a verbal loan for $15,000, sisters will fight about that.

Yes, money is the root of all evil. I have 3 brothers and 3 sisters and could care less about any of the $$ when my parents go, maybe just sentimental items? Now IF they owned land!
Good luck but sounds like you're done with it.

I re-read your post after deleting my initial reply.......You sir are filled with pride and can not even humble yourself to speak to a family member and let him explain his actions. He has offered twice and out of your self indignation and righteousness have allowed your pride to swell to a point of not even allowing your family member to explain themselves. Pray and ask God to keep you humble and allow your relative to speak - you are making assumptions with no basis and even state you know he is wrong without even listening to him.......

Yes lost the farm of a lifetime because of a greedy brother in law. Ended up selling it to someone out of town CHEAPER than I had offered...........
Oh yes I don't get him a Christmas gift anymore LOL.....