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- May 28, 2024
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One family having undivided property of 33,000 Sq feet in the middle of the city. mother and 5 children enter into a legal agreement to sell the property with the following terms:.
1.) Mother will get her share in form of $25,000 and sale amount from 1,000 Sq. feet of property.
2.) All children will be sharing the expenses that arise for the selling purpose equally and collection against sale will be divided equally.
The buyer approached to buy 13,000 sq feet of property at a rate of $.17 per square foot. And all members are with this proposal. (Note: Selling rate may be very high for sale of other part of property.)
The expenses incurred to the property sold for $.2,200.00, (Note: These expenses incurred only for the sale of part of property.) while selling, they must sacrifice the 1,200 square feet to the road development since property is adjacent to the road.
Now to share the value amount, the members arise conflict between them, which together raises 5 scenarios.
Please indicate which scenario will fit exactly with the agreement, or do you feel all scenario do not fit and you have your own scenario that exactly matches this agreement.
1.) Mother will get her share in form of $25,000 and sale amount from 1,000 Sq. feet of property.
2.) All children will be sharing the expenses that arise for the selling purpose equally and collection against sale will be divided equally.
The buyer approached to buy 13,000 sq feet of property at a rate of $.17 per square foot. And all members are with this proposal. (Note: Selling rate may be very high for sale of other part of property.)
The expenses incurred to the property sold for $.2,200.00, (Note: These expenses incurred only for the sale of part of property.) while selling, they must sacrifice the 1,200 square feet to the road development since property is adjacent to the road.
Now to share the value amount, the members arise conflict between them, which together raises 5 scenarios.
Please indicate which scenario will fit exactly with the agreement, or do you feel all scenario do not fit and you have your own scenario that exactly matches this agreement.
