4 Tips To Help Siblings Resolve Property Disputes

Property disputes are mentally, emotionally and financially draining and can take a toll on the people involved. When it’s between siblings, things can get sour real fast.

Dividing assets can result in lengthy and expensive fights that will require the involvement of property solicitors in Reading or whichever area you reside in. However, such tricky situations can be taken care of beforehand through proper planning on the parent’s behalf.

To avoid things ending up in court, there are various things families or the siblings themselves can do to resolve the property dispute once and for all.

If you’re looking for property dispute resolution tips, we’ve got you covered. We’ve put together a few things everyone can follow to ensure effective resolution of the dispute.

So without further ado, let’s take a look!

Hold A Family Auction

An auction system is a common method used by many to settle disputes. When they rise amongst siblings, it can prove to be an effective method in handling the estate themselves.

The use of an auction system enables everyone in the family to be able to get a chance at a legal claim over the estate. Every family member or sibling when given the opportunity to handle the estate themselves can opt for this method to prevent further conflicts.

From getting tokens to bid to gaining access to parts of the property, an auction can help members legally gain ownership of different components of the estate. With the flexibility that this provides, each sibling can use their tokens to get whatever part of the property they wish.

An Appraisal Of The Estate

Getting an appraisal of the estate can help siblings entirely avoid property conflicts. Since some assets involved in the dispute will be more valuable than the others, having them evenly distributed is a just way of handling the property.

Moreover, since an appraisal is an unbiased value of the property, it gives a professional opinion regarding the estimated value of the place.

With this, complex or tricky situations can be avoided as no side is getting more value over the other. Negotiations and replacements can then be decided amongst the siblings to ensure that everyone gets what they want.

Consider Asset Liquidation

Sometimes, siblings may be faced with too many assets that they may not be able to handle themselves. Handling these may prove challenging and complex for either or both parties. In such situations, asset liquidation is something that they can opt for.

Whether it is something valuable or sentimental, each asset can be sold to those interested in them. The money can then be evenly distributed, leaving both sides content.

A fair share of money through asset liquidation avoids conflicts over who gets paid more or who has the larger share. Here, you can get your family law solicitor involved to legally and effectively take care of the matter.

Get A Mediator

When things get out of hand, there’s a chance that either of the siblings may not agree to be on the same page. In such cases, there’s a higher chance of things spiralling out of control.

To tackle this, hiring a mediator is effective in handling things and avoiding more complex problems from arising. A neutral third party like a mediator is always effective in helping both sides reach a conclusion with compromise but benefits for both.

The mediator can thus handle the distribution of the property and assets in the best way that is just to both sides. Since there will be no personal feelings or bias involved, the mediator can make a sound decision with no external influence.

To Sum Up…

Property disputes can be tricky and with siblings, it can lead to rivalry and fights that can easily spiral out of control.

While these are a few solutions that could help resolve disputes, there’s also a chance that the siblings may end up in court with either side not willing to compromise. Since it becomes a sensitive area, handling it well through the right legal procedures and processes can ensure effective results that work out for both sides.

Before you venture into tricky situations, make sure to get them to talk and reach an agreement or understanding beforehand to handle the matter internally. Take whatever external help you may need but try to resolve it on your own for the most favourable outcome.