Wanted to get some advice from the more experienced and newbies alike. This is something I’ve been thinking about for quite some time
There are multiple pieces of land that my family owns outside of the U.S. As much of the land was handed down from parents to the children as many can imagine there are multiple interests in the land.
Here is the situation. There is a plot of land in a commercial area which my family personally wants to develop. There are two other parties which are involved with this however (and one of the problem is that they don’t have resources to develop the land).
We have asked if they would consider selling of their interest in the land but they say they wouldnt like to and on the other hand they don’t have the financial capabilities of contributing.
What would you all suggest for options?
My family has the resources to make improvements and develop the land (including obtaining financing). How should we work out dividing of profits once buildlings constructed etc. What could you suggest to make this all work. Remember the other parties don’t have financing but my family would like to proceed ahead.
How would you proceed financially now and in the future concerning this project?
THanks!