Inheriting a house could lead to serious conflict

Your parents passed away, and they left you and your two siblings the house. You have a brother and a sister.

The house is not all you got, but everything else could easily get divided. The minor possessions. The bank account. The investment portfolios. All of the other financial assets. Your parents did a great job of dividing everything into three and so you did not run into any problems.

That house, though, is causing a lot of conflict. You even think that the three of you are going to wind up in court.

Different visions

The problem is that you do not all have the same vision for the property.

You want to renovate the house. You think it has good bones, but it feels so dated. You want your brother and sister to help support the financial cost of the upgrades. You're even willing to do the work yourself, but you do not see why you should cover the costs.

Your brother just wants to sell it. He does not care about it, sentimentally or in any other fashion. He just looks at it as a financial asset. It's a $300,000 house and he wants his $100,000. The market is good right now, and so he's hoping to sell as soon as possible. He's already talking about what he's going to do with the money.

Your sister doesn't agree with either of you. Like you, she wants to keep it in the family, but she does not want to change a thing. Her sentimental connection is the deepest. She wants the house to stay exactly how it is for as long as possible. She hopes the three of you can use it for holidays and vacations, keeping her connected to her past.

No one is wrong

The problem here is that no one is right and no one is wrong. It's all preference. You all have valid reasons to feel the way you do.

That does not mean you'll all agree. Would your brother get so fed up with you and your sister that he takes you to court to force you to sell? Should you and your sister pool your money to buy out his third and pay him $100,000 -- and does that get awkward if he ever wants to visit the house in the future? Do you have to give up your dream of renovating the house to appease your sister, or do you have to pay for it all yourself because she won't have anything to do with it?

Conflicts and your rights

These types of conflicts are common among siblings. It is important for you to really understand all of the options that you have and your legal rights when an inheritance takes sibling disputes to a whole new level.