I'm going to keep it as short, brief, straight to the point as best I can.
Parents divorced, mother owns 100% of the house as she bought it from my father.
My older brother paid off his house (My parents gave him 50% down payment during the 2008 recession so houses were cheap...)
Brother has two kids, part ownership of the family business in a different city than me. (He works there)
My mother owns 40% shares of the business.
She's getting older and her health is declining.
She's worried that I won't have a house of my own. (Just a mom being a mom) She came up with an idea and has been asking me at least once a month about this..
She wants me to pay x amount for her house which is a great deal.. she'd sell me her house for 1/5th the market price. Her thoughts are that this house would be mine and my brother can use the money plus she'll be giving him more money on top to buy another house so my nephew and niece can have one each.. She thinks that's fair because if she passes away my brother has the rights to own 50% of this house.
Okay... with that being said... I think it's a great deal... it's the house I grew up in. Now for the part which makes me think twice... She keeps telling me its fair to do so when they already gave my brother a 50% down payment which back then is the equivalent to how much I'd be buying the house for.. Soo how is it fair if my brother will now practically be given 50% down payment along with in this current housing market where he lives another 75% down payment. She's also giving 100% of her 40% shares of the company to my brother, I get none of that. She said, "he works there and you don't". Well I used to live in the house, live in the same city of the house and do all the maintenance for it including expenses out of my pocket..
I'm torn between saying fk it.. split the house and I'll sell it when you're gone and buying it out then renting it out.
What would you do?
