house not to be sold in will?

rosegirl36

It is in Southern Ireland

tyllwyd

I think your parents need local legal advice to see if what they are proposing is possible, and also to make sure that they aren't creating a tax liability for the children which would need to be paid even if the property wasn't sold, which would be a nightmare!

DVardysShadow

rosegirl36 wrote: »

It is in Southern Ireland

Will the will be executed in the Irish Republic or the UK? There may be some differences in the possibilities arising. Although I understand Irish law incorporates UK law up to 1921.

rosegirl36

The Will to be executed in the Irish Republic

puddy

rosegirl36 wrote: »

Thanks for all the replies,the problem here is one of the sisters is adamant that her parents wishes are paramount,lots of future arguments to come i think

is she going to be the one down the county court getting eviction notices for the squatters then? or will she leave that to someone else

rosegirl36

tyllwyd wrote: »

I think your parents need local legal advice to see if what they are proposing is possible, and also to make sure that they aren't creating a tax liability for the children which would need to be paid even if the property wasn't sold, which would be a nightmare!

What sort of tax liability would that be?

tyllwyd

What I am thinking of is a situation where you inherit a property but don't sell it - in the UK you still have to pay inheritance tax. In Ireland, the tax system is different, and I think it would come under Capital Acquisitions Tax.
http:/www.citizensinformation.ie/en/money_and_tax/tax/capital_taxes/capital_acquisitions_tax.html

That's the limit of my knowledge! but you need to be absolutely sure that you don't get caught out by a tax system you don't completely understand.

yde

Sorry to tag onto the end of your post but i have a (kind of) similar situation and would really appreciate advice...

My father (divorced) recentley died and has left his property in Malta eaqually to all 5 of his children (including myself). Two of my siblings and I would very much like to keep the property as my father worked hard to buy it and we would like to appreciate it, at least for a few years, and it is pretty pointless selling at this time as we wouldnt get nearly as much for it as he had paid only a few years ago. My other two siblings however are very adament that it should be sold so they can take their money and pretty much cut off ties (we dont really get on). My question is, can we be forced to sell up and the money split?

Would really apprecite any kind of advice.... The 2 that want to sell are being very pushy and we feel like they are trying to back us into a corner....

Mojisola

I don't see how they can force you to sell. Could the three of you who want to keep the property buy out the other two?

rosegirl36

rosegirl36 wrote: »

I have a situation where a friends parents who live abroad have told him that they are going to stipulate in their will that their house will not be sold in any circumstances on their death, as they want to leave it for all the family to visit in the future, he has 2 other sisters.
His concern is who will look after the house and who will pay for the upkeep bearing in mind everyone lives in a different country.Is this a normal practice and is it enforcable

All is well, friend has been told by their parents that their old uncle now aged 70 will pop down in the future and give the place a tidy up every week lol, only trouble is he will be 80/90 and no one has even asked him yet!