Customer reply replied 5 years ago
Hi, you may be the person I spoke to as I received legal advice and direction twice from you (Legal Ease). I'll briefly describe recap. Tenants in common issue. 85 year old father shared investment property with daughter. Father ill and wants to transfer share to son. Daughter upset & refuses to co-operate. Upon your advice seeked legal counsel. Problem is that Father was talked into letting the daughter manage the property for 25 years and took all documents & paperwork. He only has a promissory note of $100,000 which the daughter told her lawyer has nothing to do with this real estate transaction and about $60,000 in repairs that daughter is not willing to pay (but her invoices she paid). The property was purchased in 1992 for $300,000 and today with daughters financing/refinancing there is an outstanding debt of $465,000. My Dad did sign the mortgage papers because she said she was strapped for monies on her luxury home and to keep family peace he signed. In 1992 her lawyer said there were 2 mortgages taken out to pay the land. One mortgage was from my Dad who mortgaged his home and the other mortgage was he & his daughter. After 25 years later, she claims he has to pay out about $70,000 as he stopped repayment. He didn't know about her financing/refinancing because she told him it was paid off so he is shocked today to know the huge debt outstanding. There was a rental home & in 25 years it was vacant 25% and Father paid daughter in cash to cover his portion. Where we are today......... I took him to the lawyer who continually gets bullied by her lawyer. Her lawyer sent in the accounting from the year my Dad sold his personal property that she lived rent free for 18 years, and there is no accounting from 1992-1999,It is 2001 where all the problems lie because my Dad used his money from the sale to get the mortgages, spent about $100,000 gutting out the home/cleaning the property/repairs/put up fences, etc..... These have never been paid to date. So, in 1992 father took mortgage out of $145,000 and it was discharged at the sale of his property. The other mortgage of $145,000 was taken out in both father & daughters name and they put it against the property they purchased together. In 2001 when father sold his other property, his mortgage was discharged but the outstanding one was the one they shared for $145,000. Daughter remortgaged to $171,000 in 2001 and again in 2008. The rental income was around $11,000 but her interest charges ran around $9,0000. Today she claims she had paid her interest charges and wants her father to pay approx. $39,000 that she said he hasn't paid.Problem is my father has no documentation. The only thing he has is a promissory note daughter wrote in 2008 for $100,000 and the invoices of about $30,000 in repairs. Her lawyer said the promissory note has nothing to do with this matter and continues to bully our lawyer.Outcomes so far:1. With your advice I went to check the banks for a joint bank account - there is none. We found she has been banking since 1992 at her own bank. So, she lied about a joint account. However, at her bank there is a mortgage in both my fathers & her name.2. With your advice, I had the lawyer get the closing papers - looks like some of the monies my Dad was supposed to get from the closing of his personal property (the property his daughter lived 18 years rent free) went into this bank account around 2001. I went to the bank but they go back 7 years (by law) and don't have anything this far back. Her lawyer denied he transacted for my Dad but in both real estate transactions his firm did the transaction. Isn't there a problem with this?3. Her lawyer has made 2 proposals but continually ignores our lawyer's request for proof that the Promissory Note of 2008 was paid (as they claim) and totally ignore getting paid for the repairs.4. The 2 offers her lawyer presented are high & I think this is because our lawyer shared that if the price was right my brother (their heir) would be interested in purchasing it. Problem is her commercial appraisal sent that the property, if lucky, was worth $900,000 . The 2 offers work out to be around $600,000. In yesterday's letter he basically this offer or he's filing the partition for sale.5. What I don't understand is why this lawyer is not addressing the Promissory Note & repairs and knock if off the offer. Our lawyers said there's not much evidence for our father and if we go to court it will cost about $100,000 to have my Dad's story told before a judge. My Dad doesn't have this money. I went to an accountant to understand the her complicated accounting and he told me that the daughter used his monies from 1992 and is trying to figure out why my Dad is still owing her after the rental monies and her high refinancing. My sister has lived in 2 luxury homes over $1.2 million. My Dad has been left with little and living frugually.6. I don't understand why our lawyer can't maker her accountable and our request for proof for the Promissory note and repairs.To buy the deal, it works out as if the property was being purchased for approx. $1.2 million where each gets $600,000.I'm not sure how to settle this case because if we sell my father will get around $500,000 and her lawyer wants him to pay her approx. $100,000. My father loses either way.Your advice and direction is appreciated.