Selling a half share in a house

Ames

RAS wrote: »

Ames
Can you please check something.

There are three stages to inheritance. You are at the end of the first stage, getting probate.

Then there is the collecting in money, sorting out debts and re-paying any overpaid benefits etc period, which cannot be done until probate is granted but during which the money and goods still belong to the estate.

Then there is disbursement; when ownership of the goods and money passes from the estate to the benficiaries.

I assume that your benefits are only going to be affected once disbursement takes place? Yes, they'll only be affected once I actually own assets. If so, can you telly uor sister that if the house is not going on the marjket until Spetember, disbursement has to be delayed. There's only the house proceeds to disburse, so it wont mean anything to her, what time it goes on the market wont affect her. I'd be worried though that as executor the benefits people could accuse me of delaying disbursement just to stay entitled to benefits.

Finally any point in explaining to them both that house prices in your area are likely to drop over the next year rather than increase. I could try, but they don't really accept my view on things, as far as they're concerned I don't know anything about this kind of thing - they do, and that's that. Just about anywhere outside London and the South East that is still happening and if interest rates rise at all they will nose-dive. Now that might get sister's attention - she lives in London, so if I explain that the value up here is going down while the cost of what she'd buy down there is going up, she'll realise it's in her best interests to get it sorted asap. So they are stupid to delay selling. Tell your sister that if the value drops over the next year, she can fund the reduction from her haplf of the estate (I know you won't but think about it).

I do like that idea, not sure if legally it'd hold water though. Bearing in mind she owes me thousands already which I'll never see, and took mum's car without offering me half, it's something I could be very convincing about, but if I can't back it up with law she'd just laugh at me.

GDB2222

I agree with RAS. It was the point I was about to make, when here it is at the end of the thread (so far!). Can you check with the JobCentre folk whether this is correct?

Presumably, once you do get your share of the sale proceeds your benefits will stop, anyway. Is that right?

Ames, if you are sole executor, it's entirely up to you when you put the property on the market. You can do that now if you think it will help you. Fix the price very high and tell the estate agent to put it on the back burner until it's all been done up. You can always relaunch it onto the market in the Spring. Autumn is a great time for selling houses too. You don't have to sell it to dad, you know.

neverdespairgirl

Ames wrote: »

I don't want to not tell the jobcentre about probate being granted and me owning half the house until it's sold in case I get into a lot of trouble.

Good idea. Because failing to advice a material change in circumstances is a criminal offence - you must tell them.

RAS

neverdespairgirl wrote: »

Good idea. Because failing to advice a material change in circumstances is a criminal offence - you must tell them.

Except until the estate is disbursed, Ames does not own the property and it does not affect her benefits.

RAS

Ames wrote: »

Bearing in mind she owes me thousands already which I'll never see, and took mum's car without offering me half, it's something I could be very convincing about, but if I can't back it up with law she'd just laugh at me.

Hi

I assume that you have included the value of the car in the probate? Because it is part of the estate.

Ames

Probate forms are in.

I've had a 'talk' with sister. Apparantly, you're all wrong.

Houses don't sell between September and March - FACT.
House prices aren't falling. FACT.
Once a deal is agreed, it'll take at least six months and more like a year to finalise. FACT.
Putting in a new kitchen, bathroom and carpets will add thousands to the price. FACT.
Putting it on the market now means that in March when people want to buy, they'll tell us they'll pay 10k less because it's been on the market so long. FACT.

It's my fault that dad hasn't had his house valued or put it on the market, because I 'keep changing my mind' about selling it to him. No, I'm happy to sell it to him, but it has to go on the market or I lose my benefits.

Other little gems were 'so what if a new kitchen and stuff doesn't add value when it's dad who's buying it anyway'. 'You (ie me) should just live off the 6k insurance money that's coming' (like that would last if she's right about it taking a year to complete a sale). And my personal favourite, 'you'll just have to tighten your belt' (coming from the woman who when she had to go on JSA and we told her to tighten her belt pretended to take an overdose and slit her wrists so we'd agree to keep giving her money for expensive food and iphone contract, amongst other luxuries).

Her reaction of pure horror when I said I could get a lawyer and force a sale quickly turned to anger and 'no you can't'.

I'm tempted to do just that, but most lawyers know nothing about benefits and so I could be jumping out of the frying pan into the fire.

It was quite funny when she asked me if the people I'd spoken to (ie you lovely lot) knew that she was involved in this and it wasn't all about me, then asked me what you thought about her part in it and I said 'they don't think you're taking my situation into account'. She didn't say anything to that.

I don't know whether to laugh or cry about it all.

Ames

RAS wrote: »

Hi

I assume that you have included the value of the car in the probate? Because it is part of the estate.

Yes, that went down on the probate form, but I know I wont see any of the value of it in my half of the estate. I'm getting a coffee table instead.

Ames

Missed these replies when I updated.

GDB2222 wrote: »

I agree with RAS. It was the point I was about to make, when here it is at the end of the thread (so far!). Can you check with the JobCentre folk whether this is correct?

Presumably, once you do get your share of the sale proceeds your benefits will stop, anyway. Is that right? It depends on whether I get written permission to use the money to buy a house. If I do then it can be ringfenced for six months. If they say I have to live off it until I'm eligible for benefits again then my benefits will stop.

Ames, if you are sole executor, it's entirely up to you when you put the property on the market. You can do that now if you think it will help you. Fix the price very high and tell the estate agent to put it on the back burner until it's all been done up. You can always relaunch it onto the market in the Spring. Autumn is a great time for selling houses too. You don't have to sell it to dad, you know. You're wrong about autumn (apparantly)- no one buys a house with xmas coming up, and no-one can afford to buy one afterwards until Spring. I'm a wimp and I'm too scared to go behind their backs like that.

neverdespairgirl wrote: »

Good idea. Because failing to advice a material change in circumstances is a criminal offence - you must tell them.I know, I'm going to be keeping them up to date with everything as it happens.

I'm going to do everything by the book as far as my situation's concerned. Dad and sister keep telling me to 'just not tell the benefits people' or, 'let dad buy the house and he just wont give you your half, and buy you a house with it'. They get a bit antsy when I try to explain that I wont need a house then, because I'll be in prison. I just wish they'd accept my situation and try and help instead of making it worse.

hazyjo

Delete delete delete lol.

Shall I book her in, or will someone else?

Seriously - good luck. Do what you know is right as far as your legal situation's concerned. You don't need the worry or stress.

Jx

poppy_f1

have you spoken to the mortgage company? are they happy for you to make the payments til its sold? if so make sure you get half the payment from your sister