Sibling share of inherited property.

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streamline01

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17 June 2021
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My parents own a rural forest block which they are going to hand down to my brother and I.

I would like to spend some money on doing up the property, fixing infrastructure etc. How does this work legally in regards to my brother if he wanted to sell his share?

Thanks.
 

Tim W

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Much depends on the nature of the proposed tenancy - tenants in common and joint tenancy operate differently.
Which it is matters a lot, because that determines how the land can be dealt in.
Your parents will need to be express about it in their will.

Also depends what you mean by "doing up..." - it can be a very bad idea to put large amounts of money into a block, only to find that another heir wants "their share in cash".
There are ways to set such things up - but none of it is DIY
 

Rod

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And depends in what State you live.
 

Tim W

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What's the zoning on the block?
 

Tim W

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Three zones on the one lot?
 

Tim W

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Yes, its 100 acres
< nods >
I'd want to be sure of the lot boundaries, in case there's more than one.
With rural zoned lots, it's not uncommon for two or more lots to be unfenced on the inside.
Perhaps the Deposited Plan isn't easily available for you to check.
In which case, look it up on NSWG's Six Maps, where you can set is to that the lot boundaries are visible.

The usual course of events here is that things go OK for a couple of years, and then
one brother suddenly decides that he wants "his share of the land"... in money.
But perhaps you don't want to sell.
Or perhaps you don't have the cash to "buy him out".
Or perhaps the last thing you want is to give your brother a free kick of capital gain
without himself having made any investment in the "infrastructure" or improvements,
or indeed made any contribution to the M&R.

The main game is to be sure that your parents are clear in their wills.
The correctly chosen language in the will document itself will make it definitive.

It can certainly be done. But it's not a DIY.
Your parents will get the best results from a meeting with a solicitor.
Most any GP solicitor will be able to set it up properly.