Posted by John Corey on April 10, 2006 at 10:40:46:
Mary,
Lets be black and white about this.
Why are you concerned about putting him on the street? Why is it your problem to find him housing?
Should he get a share of the property? Is there a reason he is not on the title and your parents did not split the property 3 ways?
Any reason not to sell for cash to a retail buyer and then divide the money 2 or 3 ways? If your brother is getting some part of the money he can find housing. If he is not getting a share of the money why should he get free housing?
Does the guy work? Can you depend on him holding down a job and making monthly payments? Do you want to sell the place to him and carry back the financing so that he makes you and your sister payment? If so be prepared to evict or foreclose if he fails to pay.
Do you need the cash now or can you wait a while?
When you say you want out is that because you want the cash, really need the cash or just do not want the responsibility for the property?
Overall it is hard to tell what the underlying motivation is and any other constraints. Can you share more?
John Corey