My father died about 25 years ago, leaving me and my siblings a certain percentage of the lake home and property equaling 100%. At the time of death the property/home was paid for. My brother bought out 6 of the 8 siblings sharesiblings' shares. He now owns 95% and wants to buy my 5%. Is this 5% of the worth at the time of my father’s death or the current worth?
My sister is currently using the lake place and pays taxes, etc. My brother would like to tear the place down and build a home for him and his family. I have not used the place much over the last 25 years. At the time of my father’s death the property was worth about $20,000. Now it’s worth around $300,000.