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Everything about the sale sounds ideal. However, there is one slight hitch. There are 11 of them in the family, that counts as 10 siblings and their…
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Critical Thinking Essay I have an aunt who is currently trying to sell off their family owned lot to a buyer who is giving her a very good price forit. Everything about the sale sounds ideal. However, there is one slight hitch. There are 11 of them in the family, that counts as 10 siblings and their mother. Her father is already deceased. Although almost all of them are in agreement about the sale, they are facing a slight hitch in the negotiations. The fact that at lest 5 of them already signed over their share of the property to their elder sister. My aunt in question is one of the youngest daughters in the family and she too signed over her share to her sister around 15 years ago in exchange for a financial loan that she was seeking at the time. 5 other siblings of her also did the same when they found themselves in need of money. Now that they have a buyer for the land, they are trying to sell it without telling the elder sister about it because they do not plan to pay back their debt. Rather, they will segregate her share and force her to sell to their buyer on the buyers terms.
If it were up to me, I would try to bring my elder sister into the situation by letting her know that there is a buyer and that the buyer is willing to buy our shares at X amount. I will also talk to my other siblings and ask them what kind of contract they signed with her when they got their loan so that we can find a work around and hopefully, pay back the loan. That is the only fair thing to do after she lent us the money in good faith.
Although I know that she will most likely balk at the mention of a buyer, I know that she will eventually have no choice but to accept it once the court approved segregation and assignment of the shares takes places. I realize that she will try to convince us not to sell our shares to a stranger. She might even enforce the contracts that were signed when money was loaned. But what is important is that each side gets to air his or her belief pertaining to the reasons why the lot is being sold. But she will have to face the reality that she does not have the money to buy out the other shareholders and she just has to go with the majority vote.
If it were me, I would decided upon the action to be taken after I send out feelers to her about the buyer. I will judge how much information to release depending upon how receptive of combative she is after the buyer is revealed. It should not be too hard to talk to her. She is my sister after all. We all want the same thing, the common good among the siblings. Read More
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