Looking for some advice

Hi all,
Here’s the scoop. I’ll try and make a long story short. My dad and uncle purchased our current hunting land back in the early 80’s, paid off for many years now. We’ve been hunting out of a “shack” ever since I was 13 years old. It’s time to build a new camp, currently financed and ready to break ground come spring.

My uncle no longer hunts and seems to have lost interest in anything to do with the land, which is fine. My parents are retired and on a fixed income. My dad and uncle financially cannot afford to make monthly payments on a new loan for a cabin. MY reasoning is, I was given a free piece of land to hunt on for the rest of my life. I don’t believe that my dad or uncle SHOULD HAVE TO be financially responsible to pay for a new camp. The agreement is that my brother and I will pay the monthly payments for “our” new place.

Here lies the problem. My brother has been know to be an idiot with money, horrible credit history and late payments on everything he’s ever borrowed. I’m concerned. I’m concerned that I’ll be the only one making the payments on the new loan. I purposely took the loan terms out to make sure I COULD make the payments on my own. I don’t want my brother to make a payment here, a payment there, and still feel like he’s entitled to use the place whenever he wants. Perfect circumstances is,he pays his way and all is fine. My goal is to have a nice place for the kids to inherit someday.

I’m sure others have had the same circumstances involving family, what do you think I should do? I was wondering if there was any type of paperwork that can be drawn up to make it clear to him that if you want to play, you need to pay.

To be clear, my brother and I have been named in the living wills to inherit the land. As of now, we have no legal ownership on paper to the land.

Advice or opinions welcomed!

With both of you inheriting the land, you both will have a cabin too. Let’s hope he surprises you and keeps his end up

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Man O’ man…you and I must have the same brother! I have to think that the easy answer is having you both drawn up on the new mortgage and make every other payments. If he cannot keep his end of the every other month arrangement then you take over payments with the stipulation that he cannot use the new cabin. Seems only fair and if he is serious about wanting a piece of that action then it will be in his best interest to keep up his end of the bargain…RR

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That’s exactly how I feel too rr.

BTW, I DID grow up in the IGH rooster……..hmmmmm

This sounds like a lawyers dream. I would plan for the worst and hope for the best. I would talk with all parties involved and lay it on the line that you want to protect all parties involved. I would make sure to clearly state your concerns while trying to keep things positive and impersonal. Build the team as to work together. If you can get them on board, I would have a lawyer draw up some documents of what you hope to accomplish. It sounds like it will be sticky with the family, but if they are reasonable people I think they will realize you are only trying to protect you and your family while also helping the others involved. Then you need a lawyer to write this up for the family. If the legal owners of the property are not willing, then you are taking a risk. Either way I would consult with a lawyer and I would absolutely have some legal documents spelling out what happens based on different circumstances. I have had some experience with this in the past and am currently in cabin ownership with my parents. Good luck. I can recommend a lawyer to you in the west metro if you would like, PM me.

Good luck to you. If your brother is financially irresponsible, maybe his is generally responsible? Could he do the work and you pay?? Maybe it could be his responsibility to do the cleaning/maintenance/lawn care/etc, and you could just go up & enjoy…. just a thought.

Who has your uncle listed to inherit his share of the land? Before I would make a financial investment into a new camp I would make sure that I completely understand the current ownership and the future ownership of the land(copy of wills from the current owners). Simply because, if for some reason the land sells, the cabin goes with it. I would most definitely work with a lawyer.

Try to think of all the scenarios…

What happens if you and your brother inherit the land and then one party wants to sell their half? Does the other brother have first right of refusal based on the current market value at the time of the sale or based on the value of when you inherited the land?

I recently bought into a land contract with a family member and our legal document states that if one wants to sell, the other family member may purchase it at 1/2 of the original purchase price (exactly what each party originally paid). Therefore, it makes it a little more painful to sell knowing that most likely the land value has appreciated and then it’s also a good purchase value for the other family member.

What happens if your Uncle or your Dad changes his mind and lists someone else on the will who would inherit the land? What happens to your investment with the camp?

What happens if you or your brother pass away before the land is inherited or after it’s inherited? Again, what happens to the camp?

I would have a lawyer write up a legal binding document on the future ownership of the land before I would invest into the camp.

Once that is done, then I would work with a lawyer to write up terms for the cabin if you decide to enter into a co-ownership with your brother. This is just smart to protect yourself and your brother.

If you end up not wanting to tie yourself to an investment with your brother, here’s another idea…

If your Dad and your Uncle are willing and if it’s possible, you may want to purchase a small chunk of land from your Dad and your Uncle where you plan on building the camp. It could be just a half acre or something with easement rights. That way you own that parcel of land along with the cabin outright and you are able to protect your investment regardless of what happens to the rest of the hunting land. If you are financially able, then I would maybe consider purchasing it by yourself and not enter into a co-ownership with your brother. That way you control it. If your brother wants to financially be a part of the cabin, you then perhaps could enter into a rent agreement with him. That way you can control the terms.

Regardless, you are going to have to have a heart to heart talk with your brother. Tell him your concerns and I hope you can reach an agreement.

Well said brad

I think you nailed it on the head Brad. It’s basically what I was thinking too, I just need to have a sit down and lay it on the line.

My uncle and dad have put my brother and I as sole owners of the land should/when they pass. I know, never say never, but selling the land is unthinkable to anyone. Thanks a ton everyone, I appreciate the insight and advice.