DIARY OF PRESTON JOSEPH RODDY JR |
RESOLUTION:The Estate of Preston Roddy Sr and Yvonne Ledet (House & Property)
The legal heirs of mom & dad's home and property are; Lynn, Verl, Kearney, Preston Jr. and Faron Roddy. Each sibling receiving an equal share of 20% of the 100% of the estate. However, Lynn's share would be subdivided into 4 equal subshares to his 4 daughters; debbie, julie pharrah and bethany representing a total of only daddy's share representing a total of 10% of the total estate. In reality, the 4 surviving siblings of mom and dad would be entitled to each a 22.5% share in the total estate representing a total of 90% of the total estate.
The subshares of the 4 daughters of Lynn's divided share of 10% is contested by the 4 girls indicating that they do not want their share of the estate and stated to me that they do not want to be liable for the cost for filing a succession. I have spoken to local legal minds such as; notaries and attornies and they have all advised and agreed that there are no statute of limitation or fine for not filing for a succession by the girls. So the girls can tie up the sale of the estate and in doing so, the property may never be sold with a clear title. Otherwise, the girls would have to renounce their share in the estate in writing through some legal document filed in the courthouse where they refuse to accept any interest in the estate and would no longer be subject to file for a succession and subject to its cost.
I have spoken to debbie, the matriarch of that family of 4 daughters and explained to her that renouncing their share in the estate and her indicating that, that is what the girls have agreed upon, then a document renouncing their interest in the estate by their family attorney would forever relieve their obligation for filing a succession at no cost. However, failing to renounce their interest in the property would tie up the property forever and the property could never be sold with a clear title.
Since Mom's death, Verl has legally purchased Faron's and Kearney's Share. The remainder of the property now belongs to Verl, Preston Roddy Jr. and Lynn's Share to his daughters unless they renounce their interest in the estate. Mom died in May of 2019. Between about June and December 2019, a 6 month sales contract was drafted and the house was listed for sale for about `$75,000.00. The house did not sell within those 6 months and the sales agreement was not extended and expired. Since the house did not sell within the agreed 6 months and Verl was determined to buy out his siblings at .50 cents on the dollar, Faron and Kearney eventually sold their share to Verl. Mom and Dad's house has since been renting out for $850.00/month. Verl and I has recently divided $10,000.00 from the rental account. As of November 23, 2023 the rental account balance is $11,062.86 with B1 Bank in Chauvin. At My death, you become the owner of my share. You will need to provide the bank proof of ownership (last will and testiment) to have your name placed on that account so you can monitor the activty on the internet. Verl is a very poor accountant and Verl needs to know that he has a new partner relationship.