Is it fair if you make a profit on a house you bought from your mother?

and then 30 years later your part of the inheritance is reduced,by the amount of profit you made on the sale of the house,because your siblings thinks its fair.???

Posted 4 months ago

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Best Answer - Chosen by Asker

No - if you bought the house at a price agreed upon by your mother- that's what the house was worth THEN!

You paid for it, you maintained it, you improved it, you paid the taxes over those years.... it was a purchase, NOT an inherited house.

The equity built in that house belongs to YOU!!!
(unless, of course- your sibling would like to reimburse you for half of all the costs you put into the house in the past 30 years)

Posted 4 months ago

Other 6 Answers to Is it fair if you make a profit on a house you bought from your mother?

pukirahe	Posted Jul 2nd, 2009 at 11:45PM It depends on your education and your love toward the mother. Rated: +1Vote for this!
KinkyFlower	Posted Jul 2nd, 2009 at 6:46PM i can see their reasoning behind that but...no it really doesn't seem too fair for them to do that....greedy bastards :D Rated: +1Vote for this!
LizardKing	Posted Jul 2nd, 2009 at 6:59PM lol thats a messed up situation. If my siblings were that money grubbing I would just be like, "You know what, you can have it all you pigs!" Rated: +1Vote for this!
iluvmypup	Posted Jul 2nd, 2009 at 7:08PM I understand their stance on this, but it really isn't fair. You are still being short changed. Rated: +1Vote for this!
TrgdyAnn	Posted Jul 2nd, 2009 at 7:22PM Why call yourself an 'American' if you didn't? Rated: +1Vote for this!
Fazer	Posted Jul 2nd, 2009 at 7:55PM As you bought the house from your mother, taking the profit into account makes no sense. (Perhaps if she had given the house to you in lieu of future inheritance it would have made sense to take the increase in value into account unless it was due to personal improvements you had made.) It makes no difference who you bought the house from - you would still have benefited from the same value increase on the house so that should have no bearing on your inheritance. You just happened to buy the house from your mother. Rated: +1Vote for this!

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