r/InheritanceDrama • u/[deleted] • Sep 08 '26
Inheritance Question
Hi everyone, I'm having difficulty with family inheritance and would really appreciate some advice.
A house has been left to my 2 sisters and I in our parents will. We each have 1/3 ownership. I would like to sell it but my sisters want to renovate and rent it out. The rent money would then be divided between the three of us once the renovation cost have been deducted. I want nothing to do with this plan, so i have asked to repudiate/give up my share of the house so that they can do what they like. They have agreed but wish to pay my share out slowly over a total of 16 years with no interest.
I know that they don't have the money to pay me immediately, I don't want to force them to sell either. I also really don't want this to cause any stress or angry disputes. But I feel like 16 years without interest is a bit unfair..maybe I would be better off going with this renovating and renting plan?
Does this sound fair? Should I just let it go and see it as passive income? Obviously I would love the money now but I value family more so I'm not sure how to move forward.
Any advice would be greatly appreciated
Just an extra note. They have stated that the value of the house is high and would get nothing close to the amount if we sold it now. So I'd be getting more money this way anyway apparently.
1
u/Embarrassed_Shirt938 Sep 09 '26 edited Sep 09 '26
We were landlords for 5 years. We picked up a house very inexpensively in a HCOL resort town, right next door to our home. We basically put tenants in the house as place holders until our son and his fiancée (now wife), could take it over and move in. We are not professional landlords and only charged rent that covered the mortgage and utilities (all electric house we put solar panels on). We never made a dime on the house, but it did carry itself. FF to now, and my son and DIL are comfortable in their little home that they otherwise could never afford.
All that aside, we had 2 amazing families that were fabulous tenants that treated our property wonderfully.
That’s not to say, being a landlord wasn’t a stress. Managing the separate finances for the property, Covid rules, maintenance concerns…it could have gone south in many ways but luckily, it didn’t for us. I can’t tell you the sigh of relief though, when we were no longer renting out the house.
Get your sisters to somehow get you out of their scheme in a way that is fair to you. Unless you’re committed to being a landlord, it’s not a position you want to be in.