Lady in distress.....inherited house 50/50

Clare11

Hi Paulsin
I can but ask. But I couldn't "threaten" him with such an ultimatum......I am too soft hearted.....My husband is the complete opposite and would be very direct in his manner but he's a business man like yourself. I don't like to hurt people's feelings.


Regards
Clare

KLB

So you say you want things to be fair, but you also say that you'd consider making it look like it was someone else buying the property, when really it was you all along. If you did this, how do you think he would feel when he finds out he's been deceived?

bryanb

Have you asked your brother what he would like to do?

princeofpounds

What a weird attitude to have... does he think it should all go to male firstborn or something? Or does he feel you have wronged the family somehow and should have been disowned?

The advice about sale and proceeds is correct. It's probably worth looking into the idea of setting up another entity to purchase with the help of a mate that would then be able to sell title on to you. The main difficulty is that you'd probably have to sell your interest to that entity initially and so raise the finance for the whole property in one go, not just half.

Ulfar

As I understand it your are both beneficiaries not the executor of the will.

It may be worth your while discussing what the procedure is with the executor whether you both inherit half of the property or half of the proceeds.

If the property is to be sold, the executor may consult the beneficiaries but it is his decision when to sell. This usually happens when one of the beneficiaries has unreasonable expectations.

If you both own half of the property then you would need to employ a solicitor to force the sale of the property which is possible.

Good luck inheritance and poorly written wills are an absolute pain.

Castleman

Try and get it sorted without a solicitor.

My dad had a similar situation and his sister used the solicitor so much (in blocking a sale/buyout) that it meant that when they did sell it, my dad only got a few k for it. Far from ideal!

Clare11

Hi everyone.
My brother thinks the first born should inherit EVERYTHING..afterall he is the only boy in the family and carrying on the family name. I have not in anyway wronged the family. Its just his "old school" attitude. I haven't asked him to sell me his share. He was willing to take his half share of the sale that failed to complete......so he is fond of the money. But I will have to ask him and see what happens. Then again he might be agreeable.....problem sorted......hopefully.
I just wanted to get my facts right before I approach him on the matter. Possibly the executor will see his refusal to sell (if he so decides) as unreasonable since I am offering him the same amount, and then sell the property to ME after all?
Time will tell....
I guess my father thought he was doing what was best. In his wisdom he choose a good executor, someone with no connection with the family, as I think he expected there would be problems ahead.
Kind regards
Clare

Clare11

Ulfar wrote: »

As I understand it your are both beneficiaries not the executor of the will.

It may be worth your while discussing what the procedure is with the executor whether you both inherit half of the property or half of the proceeds.

If the property is to be sold, the executor may consult the beneficiaries but it is his decision when to sell. This usually happens when one of the beneficiaries has unreasonable expectations.

If you both own half of the property then you would need to employ a solicitor to force the sale of the property which is possible.

Good luck inheritance and poorly written wills are an absolute pain.

We both inherited half the property so MAYBE I will have to employ a solicitor to force the sale. This would be my very LAST option. Then again he may surprise us all and agree to sell . Stranger things have known to happen......smiles

Clare11

princeofpounds wrote: »

What a weird attitude to have... does he think it should all go to male firstborn or something? Or does he feel you have wronged the family somehow and should have been disowned?

The advice about sale and proceeds is correct. It's probably worth looking into the idea of setting up another entity to purchase with the help of a mate that would then be able to sell title on to you. The main difficulty is that you'd probably have to sell your interest to that entity initially and so raise the finance for the whole property in one go, not just half.

This means I would have to choose a mate very very carefully.I am not very trusting!...

Baggysdad

Make your offer to the executor.

Worry only if your brother rejects the offer.

But I have this funny feeling that you won't need to worry.