inheritance, and rights of residency
damonthebuilder
Posts: 20 Forumite
Evening all,
This has probably been covered somewhere, but I'd be grateful of some advice.
What rights does a person have if they live in a parents' house and the remaining parent passes away?
The person pays the parent 'board' rather than formal rent, but also has their own children residing with them.
The Parent's will decrees that the house is to be sold, any outstanding mortgage settled and the remaining estate divided equally between the beneficiaries.
Thanks in advance for any advice
DTB
This has probably been covered somewhere, but I'd be grateful of some advice.
What rights does a person have if they live in a parents' house and the remaining parent passes away?
The person pays the parent 'board' rather than formal rent, but also has their own children residing with them.
The Parent's will decrees that the house is to be sold, any outstanding mortgage settled and the remaining estate divided equally between the beneficiaries.
Thanks in advance for any advice
DTB
0
Comments
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You have no rights
The executors have to follow to the letter the terms of the will
It will be up to them to get the best possible price for the property
You can apply for a mortgage and buy it0 -
damonthebuilder wrote: »Evening all,
This has probably been covered somewhere, but I'd be grateful of some advice.
What rights does a person have if they live in a parents' house and the remaining parent passes away?
The person pays the parent 'board' rather than formal rent, but also has their own children residing with them.
The Parent's will decrees that the house is to be sold, any outstanding mortgage settled and the remaining estate divided equally between the beneficiaries.
Thanks in advance for any advice
DTB0 -
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Yorkshireman99 wrote: »The person may have some rights to claim from the estate if they were financially dependedent. They need to see a solicitor ASAP.
This would fall under the Inheritance (Provision for Family and Dependants) Act 1975 (assuming England and Wales) - Depending on how financially dependent they were on the parent, the child may have a claim against the estate. However, as Yorkshireman says, they need to get advice pretty quick as there is a six month time limit from probate being granted to making a claim (although this can be extended in exceptional cases with the permission of the courts).
Be warned - Pursuing an Inheritance Act claim is an expensive venture (budget between £25K and £100K) and is not something that should be trusted to your average high street solicitor.Her courage will change the world.
Treasure the moments that you have. Savour them for as long as you can for they will never come back again.0 -
Thanks to all for your replies
I'm glad to say that the person is not me - I'm lucky enough that me dear ol mum is still very much with us, but a close friend is stressing that they will never get their sponging sister out of the former family home - the sister wasn't financially dependent on the mother, just a p**s taker who enjoyed several years of (virtually) free rent and lodgings0 -
damonthebuilder wrote: »Thanks to all for your replies
I'm glad to say that the person is not me - I'm lucky enough that me dear ol mum is still very much with us, but a close friend is stressing that they will never get their sponging sister out of the former family home - the sister wasn't financially dependent on the mother, just a p**s taker who enjoyed several years of (virtually) free rent and lodgings0
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