QUESTION

Am I being cheated, and what can be done?

Asked on Dec 11th, 2012 on Residential Real Estate - New York
More details to this question:
I was left an inheritance of rental properties that still owe mortgage, Between my older brother and my younger sister. My older brother is the administrator. And he controls the rents, and pays off the utilities. And when it's all said and done, he claims that there is no money left over after expenses to be divided, and refuses to show any receipts and any payments made toward expenses. This has been going on for a couple of years now. I know for sure that he spends money for himself, but says that he's entitled to that money for the time and energy he puts in. Is he really entitled to control the money left over after expenses for himself, while me and my younger sister don't see a dime, because of the time he puts in? And on top of that, he doesn't disclose what the properties are earning, and what is being used for expenses and what money he's actually keeping for himself for his work. What would be my best legal option? I put a lot trust in him to maintain the land. But no more.
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1 ANSWER

Estate Planning Attorney serving New York, NY
1 Award
You certainly might be cheated.  You can hire a lawyer and demand an estate accounting.  You can also demand a distribution of title, so the estate closes and you have ownership directly.
Answered on Dec 25th, 2012 at 9:54 AM

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