C0-owner, is taking all, please help

**GoingCrazy** · 11-24-2009, 09:38 PM

I do not know how to post yet, but I really need someones help, my, sister is co-owner to a property that me and my mother brought, she took all our money and rents the property out, against what we wanted, and is collecting rent money, money on which my mother who is 80yrs needs to pay her bills, My sister is already in a well to do neighborhood, in the ball park of $1,000,00 to $3,000,000.

The property was bought to fix up an sale so that I could buy my mother a new home, instead my sister took the money and took a loan out on the property...oh its to much to write, years of work, and my sister just dose not care, she talks with my mother on the phone telling her of the vacations and nice places shes going.

Oh yes, upon me being laid off, included in that money was my severance package money and my pension.

It's been three years, and nothing.

Please email me with what can I do. At:

krouse215@msn.com

Thank you.

**markbrian** · 11-25-2009, 07:57 AM

As much as I would like to help you with legal advice, I am not an attorney so I kindly suggest that you need to talk with a local attorney.

**ohgllc** · 12-13-2009, 12:18 AM

Well, unless you have your names on the deed, there really isn't anything you can do. This happened to my partner in my company before she became my partner. Her best friend talked her into funding a bunch of rehabs. Short version, my friend got some loans, funded the buildings to be rehabed and after they got rented, her friend kept all the money and my partner couldn't pay back the loans.
When ever you do any kind of business deals, always make sure there is written, contracted terms. Like the others said, you will need to collect all of the documents and meet with an attorney to see what the next move is. Have you talked with your sister about it?