Recently my aunt has not been cooperating with what her close relatives are saying. She is saying that she will be selling my parents house. The house is under her name, but this purpose was so she could get the house from the agent and give the house to my parent. After getting the house, my parents have made all the payments (mortages, utilities, home improvements, etc) and my aunt has made none. The house has been paid off for years now. My aunt recently lost her restaurant and is going through a divorce and is threatening to sell the house, that she has made no payments on, to recoup for all her losses. My parents are now residing in Arkansas and the house is located in Michigan. My parents don't want my aunt to sell the house for her own greed because my parents have put sweat and equity into the house. They don't want to see all this go to someone who is very greedy. But this matter is very complicated and I want to know if anyone can help out with this and tell what we could do.
2007-07-12 07:56:23 · 5 answers · asked by Hmoob Koo Boi 1 in Business & Finance ➔ Renting & Real Estate
I agree with acemill. Your parents have been effectively renting the house. They may be able to file a claim for the improvements that they made to the property, but that could be a little difficult without a formal lease, contract or written agreement. However, if they have documentation of the repairs, they may have a shot.
Perhaps your parents should threaten to sue for the improvements in order to convince your aunt to sell them the property.
Get a Lawyer in Arkansas, asap.
2007-07-12 08:27:42 · answer #1 · answered by therainbowseeker 4 · 0⤊ 0⤋
Time for an attorney here, and I don't know how much help THAT will be.
Your parents made a gross error in engaging in such a transaction in the first place. They have made all the payments, done all the upkeep, and made all the improvements to a property they do NOT own.
At this point, from a legal view, your parents have rented their home from your aunt from the outset. They have no claim to the property. Sadly, they trusted your aunt.
I can only recommend a very sharp attorney who may be able to play on the sympathies of a jury, should it come to a jury trial. Your parents need to act on this VERY quickly. Should good old auntie find a buyer quickly and close on the house, they're out the door.
Get that attorney and see what can be done NOW !
I like Ray Ellen's approach to 'adverse possession', but that probably won't apply here. Your parents have been making payments on the property on behalf of your aunt, and that eliminates the 'abandonment principle' required for adverse possession.
2007-07-12 08:13:55 · answer #2 · answered by acermill 7 · 1⤊ 0⤋
I'm an Arkansas Realtor.
If you parents have lived there & maintained the property for over 7 years, then they can go record ownership of the property at the courthouse! There are requirements that your parents have to meet under this law. Contact an attorney! You may have a chance at this!
It is called "adverse possession". Here is the Wiki Version:
"In common law, adverse possession is the name given to the process by which title to another's real property is acquired without compensation, by, as the name suggests, holding the property in a manner that conflicts with the true owner's rights for a specified period of time."
***Contact a local Real Estate Attorney YESTERDAY!!!!!
2007-07-12 08:06:02 · answer #3 · answered by Anonymous · 0⤊ 0⤋
A lawyer would be your best bet. If she is going thur a divorce, her husband may take half.
2007-07-12 08:05:14 · answer #4 · answered by ron d 3 · 0⤊ 0⤋
is her name on the title or the deed? if so she has cause to sell it since shes on the title.
2007-07-12 08:07:40 · answer #5 · answered by spadezgurl22 6 · 0⤊ 0⤋