Tuesday, January 24, 2006

Not enough time in a day and the kids have questions!

I have determined that life is too short and we don't get enough sleep as a general rule. Last night, at midnight, my oldest son was pondering the question: "If possession is 9/10ths of the law, what is the other 1/10th?" At midnight,the answer "not possessing" didn't come to me. But I love moments like that, even at midnight. The great thing about a functional home business is the extra time you have around the family that provides those type of moments. After further discussion, at a more reasonable hour, we determined the correct answer would be "legal ownership". An example: My dad and his brothers and sisters each owned equal share of my grandmothers property after her death. However, only one sibling stayed on the property with his low life wife. Neither of them worked, so the rest of the kids let them stay there so they wouldn't be homeless. The wife dies, then the brother dies and the kids of this woman (who are not related as this was from her previous marriage) sue to get the property. The judge finds the possession during the woman's life time as the spouse of the one brother gives them a right to claim the property that is greater than the legal ownership. One of the sisters buys the property back through the court. LESSON - always charge rent and keep after them to pay, regardless of the fact that you will never collect! One of those times being nice just doesn't work.

0 Comments:

Post a Comment

<< Home