Family and business?

[Dylinks]

Land disputes among extended families over properties purchased as an real estate company, what are the actions to be taken?

 

[Sariana23]

If there is a land as a real estate company, the main thing is to get an expert to make an evaluation of said land, to obtain the real cost and the correct measurements. The decision is made jointly with the people involved and a power of attorney of the partners is granted to sell the land in an equitable manner.

 

[Olajidey]

HIRE A COMPETENT LAWYER, Not all lawyers are experts in property transactions. It is not enough that you hire a lawyer, yes all lawyers have some idea about property law, but there are some issues which someone who is not a specialist in property matters would easily miss.

 

[giddy]

This has always been the case after a well to do man die
Some shameless family members who can't work for their own money will start dragging the wealth
But this can be avoid if the person involved have a faithful lawyer of which he wrote down his will with and also setting a next of kin to his property
So that is how to avoid such things

 

[Abibatabosede]

In any business you do there should always be clarity about who owns the business.If you have to manage your family's property, you should take it as business and make an agreement form that every concern party will sign.

 

[Ralphjoe]

To avoid family issues in land disputes arising from sales of real estate lands, There are mechanism that the real estate companies must put in place to mitigate against such happenings, some of which are as follows;
1. The firm must hire a competent lawyer to adjudicate in such a matter.
2. The estate company must make sure that it follows all the due processes in acquiring lands of all kinds.
3. The firm must register each land it sells to the rightful buyers to avoid issues of wrong claimant of property due to family ties.

 

[chalcedony8]

in a situation like this, one needs to take a legal action, or hire an expert in real estate management to do the total costing and estimate of the property, all the people involved will be present including each person lawyer, so it will be completely legal, and it will all be shared to everyone equally.

 

[Ojonuyo]

To prevent dispute between family members as regards to properties acquisitions such as land, there must be define boundaries. It is true they are family, but for peace to rain family relationship should not extent to business field. The rules, deal and regulations should apply to everyone participating in the business irrespective of family relationship. Any refusal to adhere to the instructions should face the music of penalty.

 

[Kamon c4]

In most cases where land are sold, the buyer provides a legal document with the help of lawyer to indicate the transfer of ownership. WHen this is fully in place, there shouldn’t Be any cause for alarm for the buyer as he/she can always tender the documents in the court of law

 

[Sincerem]

Extended family property always create issues during splitting to one another on the family. For issues not to arise on such trickery issues the head of such family should endeavour to employ an attorney of the law to prepare a legal document that shows how the land or property should be split to each and every one in the family.

 

[Alexandoy]

If what you mean is an estate that is for sale but has many signatories then I don't consider it as a land dispute. There is an estate near our home that is 3,000 square meters with the deceased owner leaving the estate to the 100 (or so) grandchildren. A developer is currently negotiating to buy the piece of land but the problem with the signatories is the issue. It's been 6 months already but until now the problem with some signatories are not resolved. My solution is to transfer the title to one of the signatories - let every heir sign the contract to authorize that one person. Having the title named to one person is easier to sell.

 

[Ojonuyo]

Business boundaries must be set. Never should you make the mistakes of merging your business affairs with your family affairs. The moment you start by passing your business rules to make your family happy, if care not taken your business will crash.

 

[Nurudeen]

If a person has a real estate property I don't think it's bad if that kind of person can have a Will stating how the property should be shared after his or or demise. A lots of families have separated due sharing property formula just be because the owner of the property didn't pen down a will on how it should be done.

 

[Richard92]

Family and business are two important things in a man's life and every man must know how to manage both to very successful in life. You must have time for your family and also your business, you must know how to dedicate for both because you can not do without them.

 

[Patrik]

just avoid buying something that's similar to this case, those disputes are usually unsolvable, and the only one who's losing is you, as you will be facing lot of opinions from different members and you won't really know what to do

 

[Erik4150]

I think instead of trying to settle this case as a family matter you should involve a legal practitioner and take the matter to court. A court of law is in the best position to deliver a good judgement that will put this dispute to rest.

 

[Neeta313]

For instance now if you're like the father and your purchasing a land and you also have children, this might cause issues in the future. Personally I feel the property should be divided let everyone know which is for Whoever, so that when the time comes nobody will have any issue, everybody will know which land belongs to him or her.

 

[Alihaider]

Starting a business can be a daunting task. Going into business with your family members or adding one of your family members to your team seems like a good idea at the level after your expansion because you feel like you can trust them more and hopefully Can live comfortably.

 

[Olahab]

If you can’t stand to risk making someone uncomfortable by documenting a financial business transaction, how do you expect to communicate effectively or ask any questions that may upset your business partner?

 

[Adeyoola7]

Well I may have to find better lawyer to end the dispute among them The best solution for inheritance disputes is preventing them altogether. Frequent communication with them about the paper of the property. Clear instructions on estate and assets directed towards all heirs can help prevent disputes