We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Inheriting property....how to proceed?
Leighthal
Posts: 326 Forumite
Hi All,
My sister and I are are currently inheriting the estate of our late Mum.Part of which is a bungalow.My sister lives in Sydney and therefore has no interest in occupying the property and would rather sell.I,however,would like to keep it and move in with my own family.I can only raise the finance for my sisters half by re-mortgaging the bungalow.
The question is would the property need to be in my name only?
We are at the point where our solicitors want to know how to proceed with the deeds.I have discussed my ideas with my sister and she is quite happy for my name to go on the deeds.The solicitors however want written comfirmation from her ,which is understandable,as they want to protect her interests.
Does my idea work or am I missing some tax/legal issues here?
Also when I come to pay my sister, what legal confirmation/reciept do I need to show that she has recieved her rightful half.
Thanks in advance
My sister and I are are currently inheriting the estate of our late Mum.Part of which is a bungalow.My sister lives in Sydney and therefore has no interest in occupying the property and would rather sell.I,however,would like to keep it and move in with my own family.I can only raise the finance for my sisters half by re-mortgaging the bungalow.
The question is would the property need to be in my name only?
We are at the point where our solicitors want to know how to proceed with the deeds.I have discussed my ideas with my sister and she is quite happy for my name to go on the deeds.The solicitors however want written comfirmation from her ,which is understandable,as they want to protect her interests.
Does my idea work or am I missing some tax/legal issues here?
Also when I come to pay my sister, what legal confirmation/reciept do I need to show that she has recieved her rightful half.
Thanks in advance
In an Acapulco hotel:
The manager has personally passed all the water served here.:rotfl:
The manager has personally passed all the water served here.:rotfl:
0
Comments
-
Sorry I cant really help, but if you have both got solicitors already Im kind of surprised they havent been able to advise you on this?0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.3K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.7K Spending & Discounts
- 244.3K Work, Benefits & Business
- 599.5K Mortgages, Homes & Bills
- 177.1K Life & Family
- 257.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards