Every fourth of us have experienced family conflict as a result of inheritance, and one in ten inherit conflict is about the cabin.
Here is five tips to avoid inheriting puzzlement.
1. Talk first.
Parents should not take any decision on the cabin’s future without first discuss the situation with all children, says consumer economist at DNB Silje Sandmæl.
– There should be an open process in which the various options are reviewed and all involved should have the opportunity to present their views, she believes.
2. Use real rate.
By using real appraised value at sale avoids parents that siblings feel that others have received “special treatment.”
– If the cabin is given as an advance on inheritance one should also take into account the reduction of the dollar value by regulating it in deed or testament, says Sandmæl.
3 . Create a detailed joint ownership contract.
Despite the challenges, part heirs still choose to own cabin together.
– It should in any case be made through consistent joint ownership contract that also regulates refusal of the individual co-owners. One can then buy the other out or they can share the cabin, said Sandmæl.
4 . Have written agreements.
Think through all conflicts that may arise, recommends consuming economist.
– Create a maintenance account owners pay a fixed amount, and layer written agreements on who should do what, and the distribution of time spent. Is there a party that constantly contribute more than others, it can become a source of conflict.
5 . Dare to sell!
– As a last resort, it may in some cases be better to sell than to risk splitting the whole family, says Sandmæl.
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