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Happy birthday steak!
- Thread starter ElOgro
- Start date
My family got into a major dispute with my relatives. It was a California partnership so we decided to sell our 1/3rd share. Got an excellent attorney who specializes in partnerships. Filed all of the proper paperwork and asked to be cashed out of our interest at current Santa Cruz county market value with a time frame or all property we held an interest in would be put on the market and sold.
My other relatives agreed to buy us out. We signed and finalized the paperwork last December after an appraisal at market value that was agreed on by all affected parties. Basically, the top of current local real estate market value. The absolute pinnacle for what ag land has been going for around here.
We had a huge step up in valuation of these properties after my mom passed away from cancer back in 2010 so very little capital gain tax liability. My dad just turned 90 back in April. Alzheimer's/dimentia.
Dad is absolutely set right now to live at home, his home, with in home care for as long as he is able to do it.
