Advice Wanted - Sell the Lakefront House or Keep it in the Family?

songkrai · 08-05-2020, 02:03 PM

Sell it.

If you like the Lakes Region. Purchase an ordinary house off lake or rent.

Time and time again. I see next generation not agreeing to time and usage. Then the next generation. And on and on.

There was a situation here where two adult daughters inherited a Summer cottage. One had one child. One had five children. Could not agree on maintenance,, taxes, usage, time, etc.

One did not wish to sell and just leave as is. And split the time.

One sister sued the other sister to sell the property. And then that sister bought the property. So much for family unity.

Sit down and agree who gets what.

Next generation ownership rarely works out.

Again, if you wish to stay in the Lakes Region. Just purchase a modest home off lake.

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08-05-2020, 02:03 PM	#29
songkrai Senior Member Join Date: Dec 2009 Posts: 742 Thanks: 35 Thanked 149 Times in 101 Posts	Sell it. If you like the Lakes Region. Purchase an ordinary house off lake or rent. Time and time again. I see next generation not agreeing to time and usage. Then the next generation. And on and on. There was a situation here where two adult daughters inherited a Summer cottage. One had one child. One had five children. Could not agree on maintenance,, taxes, usage, time, etc. One did not wish to sell and just leave as is. And split the time. One sister sued the other sister to sell the property. And then that sister bought the property. So much for family unity. Sit down and agree who gets what. Next generation ownership rarely works out. Again, if you wish to stay in the Lakes Region. Just purchase a modest home off lake.