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Selling a house with a "life interest"
arunadasi
Posts: 1,246 Forumite
Hope someone here can advise!
This is about a property in the ex-colony Guyana; but Guyana has British law so whatever is valid here should also apply.
Our family home in Guyana passed to my mother from her sister in the form of a "life interest". According to the deeds, after Mum dies (and she is 93) it is to go to my me, my cousin, and my cousin's brother. My cousin's brother died a few years ago.
My cousin and I both want to sell the house. My mum isn't very keen (for sentimental reasons), but the realistic reasons to do so are very compelling.
My mother never lived in this house. She has her own house, also in Guyana, but supports herself from the rent of the family home.
My mother is going to join me in the UK so there is no point keeping the house, and we need the money. For a start, I will need the funds from the sale to help support her when she comes here. We have no other relatives in Guyana; my cousin lives in the USA.
Can she sell? Or is it my cousin and myself who will be the sellers? Can she refuse to sell?
Also, my cousin's brother, who died: he did not leave a will, but he has several step-brothers and step-sisters who might very well put in a claim for his third of the property, even though this was never my aunt's intention, as they are no relation to her or to me.
This is about a property in the ex-colony Guyana; but Guyana has British law so whatever is valid here should also apply.
Our family home in Guyana passed to my mother from her sister in the form of a "life interest". According to the deeds, after Mum dies (and she is 93) it is to go to my me, my cousin, and my cousin's brother. My cousin's brother died a few years ago.
My cousin and I both want to sell the house. My mum isn't very keen (for sentimental reasons), but the realistic reasons to do so are very compelling.
My mother never lived in this house. She has her own house, also in Guyana, but supports herself from the rent of the family home.
My mother is going to join me in the UK so there is no point keeping the house, and we need the money. For a start, I will need the funds from the sale to help support her when she comes here. We have no other relatives in Guyana; my cousin lives in the USA.
Can she sell? Or is it my cousin and myself who will be the sellers? Can she refuse to sell?
Also, my cousin's brother, who died: he did not leave a will, but he has several step-brothers and step-sisters who might very well put in a claim for his third of the property, even though this was never my aunt's intention, as they are no relation to her or to me.
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Comments
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So you are saying that the house was inherited by you, your cousin A and your cousin B, but your mum has a life interest allowing her to remain in the house until her death. Cousin B was alive when the house was inherited, but has since passed away.
Just as a starting point of things to think about ...
The first question is who inherited cousin B's share of the house on his death? On the face of it, I'd say that the house was currently owned by you, cousin A and whoever was the beneficiary of cousin B's estate. If he didn't have a will, I think it would have passed under the intestacy rules.
I'd imagine that a solicitor could arrange for your mum could sign away her life interest in the house so it could be sold but first you need to find out who your co-owners actually are. If you can't persuade your mum that the house should be sold, I'd have thought she could block the sale during her lifetime.0 -
So you are saying that the house was inherited by you, your cousin A and your cousin B, but your mum has a life interest allowing her to remain in the house until her death. Cousin B was alive when the house was inherited, but has since passed away.
Yes, this is correct.
Just as a starting point of things to think about ...
The first question is who inherited cousin B's share of the house on his death? On the face of it, I'd say that the house was currently owned by you, cousin A and whoever was the beneficiary of cousin B's estate. If he didn't have a will, I think it would have passed under the intestacy rules.
He didn't leave a will, as far as we know.
I just looked up the laws of intestacy, and found this:
http://www.simpsonsissonsandbrooke.co.uk/intestacy_rules.html
I understand from that site that cousin A would inherit the whole of cousin B's share, and the stepsiblings would not inherit anything? That would be excellent news!
I'd imagine that a solicitor could arrange for your mum could sign away her life interest in the house so it could be sold but first you need to find out who your co-owners actually are. If you can't persuade your mum that the house should be sold, I'd have thought she could block the sale during her lifetime.
We are doing our best to persuade her! And we will; she won't be difficult enough to block the sale as all she really wants now is to be with me, her grandkids and greatgrand. It really is in her own best interest, and she will see that in the long run. She is basically a very sensible person but too kind: she is worried about turning out the current tenants, and the Cosumer's Association who rent a cheap room in the house. But in the end family will win.
Thank you!0 -
I think that the assumption that the law in Guyana is the same as the law in Britain might be a dangerous one. For a start, England and Scotland have slightly different laws with respect to intestacy! This website suggests that Guyana has made its own rules on the point; they may be similar to the English ones but I doubt they'll be identical.0
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Does your mother have UK nationality? If not, you'll need to apply under the Immigration Rules for an elderly relative....much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0
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I think that the assumption that the law in Guyana is the same as the law in Britain might be a dangerous one. For a start, England and Scotland have slightly different laws with respect to intestacy! This website suggests that Guyana has made its own rules on the point; they may be similar to the English ones but I doubt they'll be identical.
Yes, you are right. Further research has shown me that in Guyana, stepsiblings inherit the same as full blood siblings.
neverdespairgirl wrote: »Does your mother have UK nationality? If not, you'll need to apply under the Immigration Rules for an elderly relative.
No, she does not need a visa. I am an EU citizen (German) and she can join me here on a "family permit"; far less hassle than as a dependent elderly relative, and most of all, it is free, as against £1800!0 -
No, she does not need a visa. I am an EU citizen (German) and she can join me here on a "family permit"; far less hassle than as a dependent elderly relative, and most of all, it is free, as against £1800!
Yup! The EEA national route is far simpler....much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0
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