A 23-year-old man has turned to Reddit, sharing his disappointment linked to a family inheritance worth Rs 6 crore. The person shared that his family has inherited an ancestral bungalow in a prime area of a tier 2 city, which could be worth Rs 6 crore.
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However, the Redditor is “upset” because his father has five siblings, which means each of his brothers get Rs 1 crore share in the property. The family is planning to sell the property and comfortably enjoy the next 20 to 30 years.
“But my heart aches knowing that this property could be worth Rs 25 crores in next 15 years, and if we commercialise it and put shops right now we can make Rs 3-4 lakh per month (before split 1/6 split) but since they wanna enjoy rest of their life so that's okay, so it's off charts to commercialise it…,” the user shared.
Now, he has turned to Reddit, seeking advice about his remaining options with the share that his dad is likely to get.
family getting inheritance of 6 cr and i am really sad about it
by u/ilikebettercallsaul in personalfinanceindia
“I don't wanna pass over that property after 10 years and think what could've been, I wanna make the most of Rs 1 crore I have and make equally good investment if not more, what should I do with it…,” the user shared.
The 23-year-old's post on Reddit has gone viral with nearly 400 upvotes and almost 300 comments.
While many advised the user to not be too attached with the money since it belongs to his father, some also shared legal perspectives.
“All countrymen need to start respecting others' money as not their own. If you get any of it, be thankful and if you don't, you are not entitled to it….,” a user commented, noting that parents too need to stop treating their children as retirement funds.
There were few other comments echoing similar sentiments.
“Don't plan for other people's money…,” another commented.
Some other comments were more focussed on legal complications linked to such properties. According to one comment, their family is entangled in a legal dispute over a property worth Rs 10 crore.
“... Now 3 of 8 siblings of father are dead and their children live abroad and now they don't even come to India….Now, we have lost hope on that land…watching it to turn into jungle..…so don't be greedy,” the comment warned the Redditor.
Another comment shared similar views: “There are far too many people involved even if they agree for any future plan now. Don't underestimate people's ambition and greed and lose any profit you can make at present. It…”
Some comments also schooled the Redditor about speculating over a non-existent prospect of wealth.
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“Your dad's inheritance is only 1 crore. End of story. What the bungalow can be worth if commercialised or held onto for 20/30/40 years is all pure speculation. It's not your dad's. It only becomes your consideration if your dad/you have 5 crore to buy out the shares of his siblings. So don't go around all heart ache about it and go study or get a job…,” a user said.
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