Promise Acre: Our Journey

[promiseacres]

Got more fence lines down at the farm last few evenings, we have quite the pile of old broken, bent posts and wads of wire.

So after our attorney visit which I think went ok... we'll meet with the attorney again in a couple of weeks with Mom and then separately just us. Mom is setting up a trust, and still says she will do a quit claim deed for the farm. But talking to the our tax people to figure out if that's the best route for us. We currently own the property as joint tenants, and since it was before her marriage we should be ok... unless she decides to sell her share or goes bankrupt.... but still researching. So I still want the quit claim deed for our protection. Unfortunately can't just cut ties with her at his time... we need her financial help getting the house fixed up... so it continues. Mom wants me involved in planning her trust... and sounds like I'll be made part of her medical decisions. Can't say I'm impressed with her new husband... I don't think he has a pot to pi$$ in and if he did wouldn't have a clue what to do with it...
We have a fun weekend planned, family reunion (my Dad's side) and State fair trip! Will start school then next week.

 

[Bruce]

Yep, you need it CLEARLY in writing that under no circumstances does the property go to anyone but you. A trust is fine, but unless it is irrevocable could be changed at any time without your knowledge. A quitclaim deed would be ideal.

Is the plan to fix up the house with the money from her sale and repay it all when you move in and sell your current place?

 

[promiseacres]

Yep, you need it CLEARLY in writing that under no circumstances does the property go to anyone but you. A trust is fine, but unless it is irrevocable could be changed at any time without your knowledge. A quitclaim deed would be ideal.

Is the plan to fix up the house with the money from her sale and repay it all when you move in and sell your current place?

She is doing an irrevocable trust with her other assets. But yes
She's "financing" the improvements until we sell.

 

[B&B Happy goats]

Keeping my that your mother follows through with what she agreed to do ...

 

[farmerjan]

Got more fence lines down at the farm last few evenings, we have quite the pile of old broken, bent posts and wads of wire.

So after our attorney visit which I think went ok... we'll meet with the attorney again in a couple of weeks with Mom and then separately just us. Mom is setting up a trust, and still says she will do a quit claim deed for the farm. But talking to the our tax people to figure out if that's the best route for us. We currently own the property as joint tenants, and since it was before her marriage we should be ok... unless she decides to sell her share or goes bankrupt.... but still researching. So I still want the quit claim deed for our protection. Unfortunately can't just cut ties with her at his time... we need her financial help getting the house fixed up... so it continues. Mom wants me involved in planning her trust... and sounds like I'll be made part of her medical decisions. Can't say I'm impressed with her new husband... I don't think he has a pot to pi$$ in and if he did wouldn't have a clue what to do with it...
We have a fun weekend planned, family reunion (my Dad's side) and State fair trip! Will start school then next week.

Any chance your dad could/would be able to help out and get her off the deed for the farm.... with the same deal that you pay him back from the sale of your current place????? ALL DONE ON PAPER, LEGAL, AND NO MORE SURPRISES??????
Or will the bank consider a lien against your current place for the repairs, if she signs a quit claim????

 

[Baymule]

This is just messed up. Since she sold her place, where are she and her new husband going to live?

 

[promiseacres]

This is just messed up. Since she sold her place, where are she and her new husband going to live?

She bought a house trailer on an acre 4 miles from the farm. They are there.

@farmerjan unfortunately my Dad doesn't have the funds available to do what needs to be done. and our finances are all maxed out with the purchase of the farm...

 

[Baymule]

Does she have enough land to keep her horses?

 

[promiseacres]

Does she have enough land to keep her horses?

Not really it's an acre of very sandy soil, not impossible but not ideal. Two would be ok...4 would not. But we only agreed to two.

 

[farmerjan]

I wasn't trying to be nosy, just trying to think of another way for you to get untangled from the situation that your mother has put herself, and you into. Hopefully, between the tax guy and the lawyer, you can get this resolved and you can continue on with your plans.