Relative refuses to transfer shares of their late mom's apartment to their aunt, who is trying to pay them the market value of the apartment as it was 16 years prior: ‘The current market value of the apartment has gone up’

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  • "WIBTA if I refuse to transfer shares in an apartment I inherited to my Aunt according to a deal she had with my late mother 16 years ago?"

    My aunt has recently approached me regarding a share of an apartment I inherited from my late mother 16 years ago. My
  • aunt apparently discussed buying my mum out of her share of the apartment 16 years ago and according to my aunt, they performed a valuation of the
  • apartment and had agreed on all sale. Approximately a year or so after this discussion took place, my mother did. Neither her will,
  • nor the executor of her estate, contains any mention of the apartment. Nor is there any written contract or anything else written down regarding the details of the deal.
  • My aunt approached me shortly after the d th of my mother, stating only the records she would require from me for the
  • transfer of my inherited share, but mentioned that she currently didn't have the funds to buy me out.
  • In the intervening years, my aunt has brought up the apartment a few times, telling me that we finally need to sort it out, and
  • that she owed me money. No specifics were ever mentioned and the last written email I have is now over a decade old.
  • My aunt now wishes to finally have the share transferred, however wants to buy me out of my inherited share according to
  • the valuation of 16 years ago. The current market value of the apartment has however gone up by about a factor of four in the intervening years.
  • I would like to sell my share of the apartment, however find it unfair that my aunt wants to pay me what the share was 16 years ago rather than its current value.
  • My aunt states that she had a deal with my mother all those years ago and that I should honour that deal.
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  • WIBTA if I stood my ground and demand to be paid according to the current market value? A contributing factor to consider is
  • that my aunt now has big health problems and is facing retirement with very little in terms of retirement benefits.
  • Pleasant_Test_6088 NTA If you met with a realtor 16 years ago and expressed interest in a house but didn't have enough money to purchase despite a willingness to sell on the part of the owners, you couldn't show up 16 years later and expect to purchase for the initial price. The
  • fact that you are related is irrelevant. Your aunt's approaching retirement and health problems are irrelevant. She didn't have the money then so she couldn't buy. If she doesn't have the funds that are currently required then she can't buy. It's a her problem, not a you problem.
  • Adorable-Address5718 Your Aunt's deal with your mother d d with your mother. You have no obligation to honour it, especially undet terms which severely disadvantage you. NTA
  • cynical_old_mare NTA - your aunt's "contract" with your mother isn't worth the paper it isn't written on. She categorically can't backdate the value back to when she believes she got agreement from your mother as it sounds like she lived a year after this "agreement" and absolutely nothing was done to process this "agreement" on your mother's side.
  • It sounds like your aunt's trying it on in order to fund her likely health costs. If you've inherited a place the valuation at the date of d th only remains the same for the purposes of any tax levied on the estate.

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