Dear Dave,
I have an uncle who wants to gift some property to one of his sons, myself, and my sister. The property is about 2 1/2 acres, and it’s probably worth around $125,000. My wife and I are trying to pay off debt in Baby Step 2 of your plan, and we’re not sure how we feel about the situation. What do you think?
—Dave
Dear Dave,
If your uncle asked me if he should do this, my answer would be no. The thing is, you’ve got three different sets of people with different lives and very different situations. Not only that, but these three potential co-owners probably have differing ideas about the land and what should or shouldn’t be done with it. To me, the whole thing sounds like a big family fight just waiting to happen….