THE LETTER OF THE LAW

(Page 6 of 6)

June/July 1997
 
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Emotions run high under this kind of stress and perhaps these suggestions will help you resolve the problem to everyone's satisfaction. Don't allow it to cause a permanent rift in the family.

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Even though little attention was given to written agreements in the beginning, it is not too late to start. Draw up a formal agreement and have everyone sign and notarize it. Be sure to include contingencies for inheritance, divorce, missed payments (if still applicable), and anything else you can think of that may affect ownership. Ail attorney may have suggestions regarding this type of document. Once signed it wouldn't hurt to record this document in the public record. In the future, note down any agreements that are reached between two or more family members with regard to this land (you should always record formal agreements). Years from now such notes and records will help clarify what each person wants and has a right to expect. This will go far in keeping family relationships on a good footing.

LetMOTHERsolve your problems before they become headaches. SendJeanyour questions at Country Real Esate, MOTHEREARTHNEWSP.O. Box 129, Arden, N.C. 28704 or at MEarthNews@aol.com .

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