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Richard
Richard, Attorney
Category: Estate Law
Satisfied Customers: 55130
Experience:  29 years of experience practicing law, including tax and estate planning.
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My sister was bought out of the family farm in 2013 for

Customer Question

My sister was bought out of the family farm in 2013 for $75,000; 2 years later we sold it and the other siblings, 6 of them got $100,000 each, now she is complaining and wants more money; does she have a case. There were 2 appraisals done when she was bought out and she signed a release form that says she has no rights to the property.
Submitted: 1 year ago.
Category: Estate Law
Expert:  Richard replied 1 year ago.

Good evening. My name is ***** ***** I look forward to helping you.

She has absolutely no case. She agreed to the deal when she sold it and signed the release. She doesn't now, with 20-20 hindsight decide that she wants to change the deal. I'm sure had the situation been reversed and the property decreased in value, she wouldn't be voluntarily giving the rest of you money back. She can bitch and moan all she wants, she has no cause of action and is entitled to nothing. If you sell something, you no longer have any control over it; and any subsequent sale has no relevance to you any longer. Her claim is laughable!

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Customer: replied 1 year ago.
She said her attorney says she has 3 years to contest the buyout
Expert:  Richard replied 1 year ago.

She's not going to have any grounds to contest the buyout. For her to prevail in any kind of contest, she would have to prove duress, coercion, fraud, and/or undue influence. She simply wants to change her mind here because the property appreciated rather than depreciated. Any court is going to see this exactly for what it is.

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