View Full Version : My Inheritance, being stolen.
09-03-2011, 06:49 PM
My father passed away a few years ago, he left my brother, sisters and I, shares in a company that controls and owns a block of flats.
We have about 32% of the shares while my uncle has the rest.
We do not get any money from him.
What steps should I take to get my inheritance from him.
Should I lay a charge of theft? or corporate fraud?
I am 21 years old.
I am willing to pay someone who can help with solving this.
He is stealing from us so should be punished by the law.
What Should I do?
09-03-2011, 06:54 PM
Won't a lawyer simply do?
Jeez I really don't know hey - but sure that there are people here whom could give you valuable insight.
Welcome to MyBB anyway :)
09-03-2011, 07:01 PM
Thank you for the welcoming :)
I have given the case to lawyers but they haven't done anything.
I am supposedly the executor of the estate.
It's a block of 20 flats.
Each flat is rented out at around R2000.
Of course there tend to be vacancies and typical landlord probleoms.
But if all 20 flats are rented out that's around R40000 which would be around R12000 p/m there are costs etc.
I'm never shown the books etc.
I'm even considering going to sars and reporting tax evasion or what ever.
And there is no money coming this way.
While he does nothing but has enough money to buy houses and the latest bmw's.
While we suffer.
09-03-2011, 07:06 PM
That's fscked up man.
How can the lawyers not be doing anything?
Any lawyers here looking for a job? :D
09-03-2011, 07:07 PM
Find out if the company recently paid dividends. 32% of R0 is still R0.
The majority shareholder has control of the company & can choose to keep the profits in the company. The value of your shares will go up but you won't see any actual cash. Sucks being a minority shareholder.
I'm never shown the books etc.
As a shareholder you have a legal right to inspect the financial statements.
09-03-2011, 07:15 PM
Find a lawyer that sprecialises in deceased estates.
Ask about your prob & also about how you should oversee all this...
09-03-2011, 08:26 PM
Well I shall be taking the case to a new lawyer.
That seams like the most efficient manner to handle this situation.
Thank you to everyone for there input.
if changing attorneys make sure you terminate the dealings with the first lawyer in writing, they can be a bunch of $%$#s sometimes.
11-03-2011, 11:25 AM
Have you actually spoken to your uncle and asked to be included in decisions etc? If you don't communicate how must he know?
but if you have and he is giving you the run around then lawyer his ass!
11-03-2011, 11:57 AM
@matthew- This is a tricky area as it all depends how the partnership was formed. Was this a CC, was it a Company or was it a normal partnership. Regardless of what type, a new agreement also has to be done as the shares have been transferred. An accountant will actually be of more assistance here as they are more knowledgeable on the laws governing partnerships (CC, Pty (Ltd), etc).
You need to also refer to the original agreement concerning profit share but if its a CC, then that information is not available except to the founding members.
Also remember that if your uncle is dodging SARS, as a shareholder, you can also be held liable if your aware of this and never reported it.
24-03-2011, 11:08 AM
you can always hire an accountant...they can trace exactly what happens 2 the monthly revenue collected & how its being spent