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family dispute over duplex

Posted on: 11th Aug, 2013 03:19 pm
I have a question over a family dispute. My Mother and Father co-own a two family duplex with my brother . My father and my Brother are both on the deed and the note. My brother made an agreement that my father sell his home and give him the money it was $50k. And for that my brother would let him and my mother live their till they died. My dad is 88 yrs old. Its twelve years later and my brother has now stopped paying the mortgage and wants my mom and dad out of the duplex. He has been late so many times it has ruined my dads credit. So they have no choice but to start paying the entire mortgage now. Which was not part of the deal. My father has nothing from the verbal agreement in writing but has many witnesses who has heard him say that he would pay the loan. My question is can my dad and mom keep the duplex by paying the mortgage and take my brothers name of the deed and note that he and my father are on? Or what can my parents do about this ?
Hi twhitaker,

It should be noted that verbal agreement do not hold any value irrespective of how many people have heard it. Your brother has to transfer the property in the name of your parents or else your parents will not be able to remove his name from the deed.
Posted on: 11th Aug, 2013 07:40 pm
Hi twhitaker!

Welcome to the forums!

Your parents can buy out your brother by offering him a certain sum of money and ask him to transfer his share of the property to them. This may help resolve the situation.

Feel free to ask if you've further queries.

Sussane
Posted on: 12th Aug, 2013 08:27 pm
Thank you all for your advice. I now have P.O.A. over my Mom and Dads financial and health decisions . My brother is still not helping at all. For now I guess all we can do is pay the mortgage until he is ready to make a deal. Thanks again.
Posted on: 16th Aug, 2013 10:26 am
Welcome twhitaker,

That will be a good decision for you and your family.
Posted on: 18th Aug, 2013 10:36 pm
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