Inherited a share of a house, but want out. HELP!!!

Gluey_1974

Hi to everyone,

Back in 2008 my father died without a will and the Probate Office awarded me, my two siblings and my mother 25% equal shared ownership of the house my father owned. As it was the matrimonial home we all came to a mutual understanding that my mother (who resides at the property) could live there for the rest of her natural life, without hindrance or request for rent.

Trouble is, for personal reasons I want to sell my 25% share.

From reading other posts I am aware that I am perfectly at liberty to do this without consulting the other owners; however, they are in no financial situation to buy my share.

My question is: Are there any companies I could approach that would be interested in buying me out, with a view to holding onto my share of the house as an asset for the rest of my mother's natural life?

Can anyone recommend property companies/equity release schemes that could help me achieve this?

Thanks

Colincbayley

Gluey_1974 wrote: »

Hi to everyone,

Back in 2008 my father died without a will and the Probate Office awarded me, my two siblings and my mother 25% equal shared ownership of the house my father owned. As it was the matrimonial home we all came to a mutual understanding that my mother (who resides at the property) could live there for the rest of her natural life, without hindrance or request for rent.

Trouble is, for personal reasons I want to sell my 25% share.

From reading other posts I am aware that I am perfectly at liberty to do this without consulting the other owners; however, they are in no financial situation to buy my share.

My question is: Are there any companies I could approach that would be interested in buying me out, with a view to holding onto my share of the house as an asset for the rest of my mother's natural life?

Can anyone recommend property companies/equity release schemes that could help me achieve this?

Thanks

If you do find anyone to take on your share ( and I doubt you will, sorry ) then they would at the very least want to charge your mum the going rent.

To be honest, I very much doubt that anyone, other than a family member would even entertain the proposal.

PasturesNew

For whatever reason, I think your request is out of order. If your dad hadn't died, you'd not have access to any portion of the house. If your parents were married I am surprised it didn't all go to your mum anyway.

I think you'll find there's no way to sell your quarter.

lalli_pickle

Have you spoken to your family about this?
They would be my first port of call, you never know, your mother may not want to stay!
I know my mother would love to move out of her matrimonial home, but as she's only on a pension she can't get a mortgage and the house is worth pittance so not worth selling at the moment.

RAS

Why did you not do a deed of variation and transfer the whole house to mother? In fact, you may still be able to do this (the limit is two years after death, I think).

Gluey_1974

Thanks to everyone who has posted. I have spoken to my mother about selling the house, but she is reluctant. My other siblings are renting and cannot even afford to first-time-buy, let alone buy out my share.

Relations between me and my mum are at an all time low since I discovered not long after my father's death that she had been having a secret affair for the last 10 years. I'm sure my father knew, and explains 1) why he never left a will citing mum as his sole beneficiary, and 2) the decline in his health over that same period.

Mum is still seeing the bloke now, so I just want out. Any suggestions at all of third party companies/banks/financial institutions who would be interested in taking over my quarter share would be deeply appreciated.

Should I speak to the CAB or a local estate agent may know of a potential buyer?

Thanks.

timmyt

you won't be able to sell, and no court is going to order a sale with mum still their and your past agreement.

sorry

Fire_Fox

!!!!!! grow up: if you username is anything to go by you are 35 years old! Realising your parents are human beings and that relationship problems are rarely one sided is part of adulthood.

Your mother's affair is absolutely none of your business and it is not your place to punish her for it. If your father knew it was down to him to leave your mother, attend marriage guidance or write a will leaving your mum with nothing. Unless you have medical training you are wholly unqualified to pontificate on what may have contributed to your father's health problems.

Errata

Back in 2008 my father died without a will and the Probate Office awarded me, my two siblings and my mother 25% equal shared ownership of the house my father owned

This sounds unusual, I thought the the rules of intestacy were that everything goes to the surving spouse.

chewmylegoff

stupid troll

Gluey_1974

If i wish to cease ties with my mother, whether emotionally or financially for whatever reason that is my perogative. Believe me my mother is no poor lonely widow!!

With regard to probate, when we attended the Probate Office, Holborn in March 2008, they advised us that the deceased assets were to split in equal shares amongst my mother and my father's children. I was as surprised with this outcome as the previous post.