Promises are a funny thing.
We all make them, and we all have different opinions on what they're worth. For some, a promise is a solemn oath that should never be broken.
For others, as you’re about to read, it's more of a general guideline - something that can be bent or even broken in certain circumstances.
“I've never met these people.”
According to a report by Newsweek's Alice Gibbs, a family refuses to sell a couple of commercial properties to the person their parents had agreed they would go to.
The family asserts that they inherited the estate after the loss of their father, which occurred four years ago. A spokesperson for the family said, "About 10 years ago, a family friend owned two commercial units but couldn't keep up with the associated costs (repairs, maintenance, taxes, etc) and also needed a lump sum of cash to keep their business afloat. So he asked my parents to buy the property from him with the condition that he could buy it back for free after a few years once his business recovered. My parents could rent it out in the meantime and recoup what they paid."
However, once the patriarch passed away, the children became the legal owners of the estate. And for the last four years, they've been renting out the updated units. When they heard from the old family friend over the summer, though, things began to become complicated for them. The spokesperson said, "The family friend and his kids sent me a pretty aggressive letter saying they want the property back for free under that original agreement between them and my parents."
The family went on to clarify that: "There is no contract or anything, it was just a verbal agreement." The friend of the family finally offered to buy it back from them for the initial asking price of $80,000 after much back and forth. The value of the real estate, though, has risen dramatically in the meanwhile. And the family has also made it quite evident that they have invested a significant sum on the refurbishments.
The spokesperson explained, "I've never met these people. And I have no intention of upholding a verbal agreement that I was not a part of. I told them, no, and not to contact me again. They've been sending me threatening letters with semi-legal threats. I talked to a lawyer and he said they have zero claims and that I'm in the clear.”
Do you think the family is wrong to ignore them and keep the units?
What are your thoughts?
Let me know what you think in the comments, and don't forget to share this article with your friends and family.
Thanks for reading,