Am I getting a fair property evaluation? My brother and I stand to co-own a property inherited from our parents. My brother has lived in the property for 10 years. (He has no lease) An evaluation was made on the property with my brother living in it as a 'standing tenant'. I have researched and it appears that properties with standing tenants are valued often 15% to 20% below fair market value. My brother wishes to buy my half from me at 50% of the present evaluation made with a standing (Without a lease) tenant. I believe an evaluation should be made as if the was no tenant. And that price then divided 50/50 would be the fair asking price.
What are the laws and thoughts on this?
It would seem to me that I am being railroaded into selling at a reduced sum because the present (Without a lease) tenant is also potentially a part owner.
What are the laws and thoughts on this?
It would seem to me that I am being railroaded into selling at a reduced sum because the present (Without a lease) tenant is also potentially a part owner.
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