Mothers Will leaves her share of home to children

marshall_cockney_fox

Savvy_Sue wrote: »

As far as the deeds go, we were advised that there was no need to alter them after Dad died. The Land Registry shows that he and Mum held the house as Tenants in Common, so neither can sell the house without the other. Since Dad is dead, his half cannot be sold without the executors' involvement, but we don't need to record that.

I got half an hour free legal advice about this through my union - do you have similar, or through your home insurance? It may not be enough for you as the circumstances are different, but it may be a start.

This sounds very useful.

I and my sisters will not be enforcing any 3 years matters so that piece of the Will is a read herring. All we wanted to know was at the point of any sale how we enforce mums wishes re her 50 per cent. Mum was naturally speculating on the value of the property by stating a numerical value (£50,000 x3) rather than state a percentage. This seem's a strange choice given a fluctuating property market!!! When she states the trustees disperse money she is only referring to money from her 50 per cent.

So my final question is really can i leave it until a time when dad wishes to sell or am i best to get my name on the deeds now? If it is the latter will i need a solicitor and at what sort of cost?

Thanks

FatVonD

marshall_cockney_fox wrote: »

So my final question is really can i leave it until a time when dad wishes to sell or am i best to get my name on the deeds now?

I guess if your name were on the deeds your father would need you to sign if he wanted to remortgage so it might be worth doing if you were worried about him doing that.

I can see you might be worried about that if it were simply to bail out an existing business but what if he needs to release money to live on? Does he have an adequate pension or might he need to release equity to see himself through retirement?

paddy's_mum

I strongly suspect that through ignorance you are deluding yourself when you describe part of your mother's will as a 'red herring'. So far as I am aware, you cannot decide to do bits of the will and let others slide no more than you can have 'just a slight touch of pregnancy'.

That three year thing is clear and loud as a bell although I agree with others who cannot see how it can possibly be enforced. I'm also certain that it will cost you and/or the estate a very great deal of money to pursue an Order for Sale through the courts.

I have grave doubts as to the veracity and/or wisdom of this will and can only urge you once again to invest a little bit of money in good legal advice from a lawyer specialising in this field.

I hope it works out well for you but have to say that it sounds as though in your earnest and honest desire to avoid wasting money, you might just be going a penny wise and pound foolish route. Good luck.

Savvy_Sue

paddy's_mum wrote: »

I strongly suspect that through ignorance you are deluding yourself when you describe part of your mother's will as a 'red herring'. So far as I am aware, you cannot decide to do bits of the will and let others slide no more than you can have 'just a slight touch of pregnancy'.

Of course there's always the option of a Deed of Variation, if all beneficiaries agree, but again, you'd need legal advice for that.

puddy

paddy's_mum wrote: »

I strongly suspect that through ignorance you are deluding yourself when you describe part of your mother's will as a 'red herring'. So far as I am aware, you cannot decide to do bits of the will and let others slide no more than you can have 'just a slight touch of pregnancy'.

That three year thing is clear and loud as a bell although I agree with others who cannot see how it can possibly be enforced. I'm also certain that it will cost you and/or the estate a very great deal of money to pursue an Order for Sale through the courts.

I have grave doubts as to the veracity and/or wisdom of this will and can only urge you once again to invest a little bit of money in good legal advice from a lawyer specialising in this field.

I hope it works out well for you but have to say that it sounds as though in your earnest and honest desire to avoid wasting money, you might just be going a penny wise and pound foolish route. Good luck.

yes, i also thought that you cant choose not to carry out bits of the will, but can you carry out something that is not applicable in law (ie making someone sell their house?)

i mean, if there is at least 150k for the 3 beneficiares in the long term, money spent now on solicitors will be worth it surely?