Skye2144
03-12-2007, 09:14 PM
Timeline:
1985 four sisters bought a 2-on-a-lot property for $150,000
1995 the property was refinanced fot $200,000 and 2 sisters were bought out.
Now the title shows 1 sister and her husband, as husband and wife, and 1 sister, an unmarried woman.
On 2003, the property was refinanced again for $300,000 and each sister got $50,000.
On Dec 2006, the married sister, wanted to refinance, and told the second sister to quit-claim so she can refinance. The 2nd sister signed and gave the quitclaim. The property was refinanced for $418,000 (cash out of $118,000)....
On Feb 2007 the 2nd sister was returned in the title.
But she never received her half of the refinance.
The married sister now wants to sell, the property is worth $700,000 according to the last appraisal. She said she will give the 2nd sister $40,000 for her side of all interests.
Despite the protests of the 2nd sister, the married sister does not want to talk to her and is planning to sell.
The 2nd sister now wants to know:
1. Shouldn't she be entitled to half all proceeds of the sale, plus half of the proceeds from the refinance?
2. How can she put a BUYER BEWARE notice so that even if the married sister commits fraud to sell the home, it will not be possible to achieve? I have researched on the Lis Pendens, but this requires pending court action, which is still too early for that......right now, all the 2nd sister wants is for the married sister to have no choice but to sit down with her and make a fair and equitable decision through a mediator.
Any help is great!
1985 four sisters bought a 2-on-a-lot property for $150,000
1995 the property was refinanced fot $200,000 and 2 sisters were bought out.
Now the title shows 1 sister and her husband, as husband and wife, and 1 sister, an unmarried woman.
On 2003, the property was refinanced again for $300,000 and each sister got $50,000.
On Dec 2006, the married sister, wanted to refinance, and told the second sister to quit-claim so she can refinance. The 2nd sister signed and gave the quitclaim. The property was refinanced for $418,000 (cash out of $118,000)....
On Feb 2007 the 2nd sister was returned in the title.
But she never received her half of the refinance.
The married sister now wants to sell, the property is worth $700,000 according to the last appraisal. She said she will give the 2nd sister $40,000 for her side of all interests.
Despite the protests of the 2nd sister, the married sister does not want to talk to her and is planning to sell.
The 2nd sister now wants to know:
1. Shouldn't she be entitled to half all proceeds of the sale, plus half of the proceeds from the refinance?
2. How can she put a BUYER BEWARE notice so that even if the married sister commits fraud to sell the home, it will not be possible to achieve? I have researched on the Lis Pendens, but this requires pending court action, which is still too early for that......right now, all the 2nd sister wants is for the married sister to have no choice but to sit down with her and make a fair and equitable decision through a mediator.
Any help is great!
