I may have posted this before but cannot find it.
JB's husband bought a piece of property that they were going to rent out. They got in over their heads. So he "bought" it from them. Which meant he took out a loan to pay off all of their debts. Then the next 15 years, he paid the loan payments, paid the insurance and taxes on it, paid all maintenance costs. His parents were supposed to give him the money for those things. But of course, they did not. They did get all of the rent for it.
Then after a fight with his father because his father
had let insurance lapse, his father DID find a buyer for it. When he
got the money from the buyer, what didn't go to paying off the rest of
the loan he gave to his father. Why? "Because I didn't pay them what
it was worth when I bought it from them." Now to be fair, it would have
made sense if he'd subtracted EVERYTHING he had put into the property.
I did not argue with him giving that money to his parents. By selling that property, we had that loan payment off of us, and the other expenses and worry. The loan payment was almost as much as our house payment and did affect the kind of house we were able to get. So be it. I was happy that the property was GONE from us.
