A very long, despairing post

FatVonD

You're being too nice to him, Gingernutty. He's lived somewhere rent free for years while you're struggling financially and now he expects you to give up part of your inheritance for him and he's making you feel guilty about it?? Tell him to take a hike! Get together with brother 2 and agree to put up a united front on the subject.

meritaten

scuse me - but if dad specified that his estate be split up equally between the three of you - then all three properties (unless of equal value) must be sold. which part of that does your brother not understand?
so, he will now be homeless? er - no, he will have a third of the estate to buy a new home. and hun, it is not your place to provide him and his family with a home. The quicker these properties are sold the better - for all of you.

bossymoo

There is a capital gains allowance for each individual of some £10k plus per year.
But, I think until the proceeds are distributed, it's not your gain, iykwim?
The solicitor will have to proceed according to the will, so regardless of either brothers ideas, unless they can afford to buy the property (and the solicitor has a duty to get a suitable price) then it will most likely be sold on.
I suspect all this might take quite some time... Very stressfull. You will just have to carry on your finances as before.
Sorry to hear about your dad :-(

burnoutbabe

you can of course agree a deed of variation to split the estate as you wish. If you want Brother 1 to have the place he lives in and he rest of it gets sold and split 50/50 by you and brother 2 thats fine 2.

you may lose out, as you'd probably have to suffer the tax costs between your and brotehr 2s share of the estate but is at least an option to move things forward. Up to you if you fight or not, depends on the values of things.

Gingernutty

londonsurrey wrote: »

Let's get this straight. You have daily suicidal thoughts as a result of your liabilities-work- financial position, but are willing to just hand over tens of thousands of pounds to your brother, who CHOSE to spend over a decade setting up house and offspring in an area where he knew the house prices.

He has not offered you any recompense over the long term, or if they decide to sell said property and move to Canada/Australia/whatever. Any profit will be theirs, thank you very much?

It's your choice, but you seem to be recognising blackmail and stroppy behaviour, and yet still allowing it to take precedence over your legal rights and mental health.

I think you're getting the two brothers confused. Brother in Oz is doing quite nicely for himself and owns his own house, Brother in London wants to stay in London, in fact, that part of London.

He's lived rent free in one or the other property since 1991 - that's 21 years.

I'm not willing to hand over the money to CGT. However, we do now owe CGT and could owe more if the flat is re-let.

I want it sorted as quickly and as efficiently as possible but Brother 1 seems to be utterly deaf to everyone but himself and his masterplan.

It's the lack of communication, the 'not knowing' which is driving me up the wall.

Gingernutty

meritaten wrote: »

scuse me - but if dad specified that his estate be split up equally between the three of you - then all three properties (unless of equal value) must be sold. which part of that does your brother not understand?
so, he will now be homeless? er - no, he will have a third of the estate to buy a new home. and hun, it is not your place to provide him and his family with a home. The quicker these properties are sold the better - for all of you.

There are two properties

FatVonD

Gingernutty wrote: »

I would be prepared to take half the proceeds of the house with Brother 2 and Brother 1 could have the flat but that's not allowed under the terms of the will and Brother 2 would have to agree to that plan.

He could always mortgage the flat for the difference between what his share would be and the value of the flat to pay yourself and brother 2 what you're owed. You could point out that stamp duty and legal fees buying in another area would cost him almost as much. Of course a mortgage would mean he'd no longer be able to live rent free but that's a concept he'll just have to come to terms with.

BitterAndTwisted

Gingernutty wrote: »

How can he be forced to move?

He can be evicted if he doesn't agree to go quietly. I suspect the estate could be justified in deducting any additional legal expenses in securing that eviction from his share of the inheritance.

DO NOT EVEN THINK ABOUT agreeing to a lesser amount in order to be "fair" or feel guilty about what is going to happen. You owe your brother nothing. Sounds like he's had a very easy ride for a very long time now.

FatVonD

Gingernutty wrote: »

Brother in London wants to stay in London, in fact, that part of London.

Seriously, I've always fancied living in Kensington but I can't so that's just tough on me. Very, very few people can afford to live on the doorstep of where they work in London, he will have to travel in.

The kids will have to move schools but in 21 years of living rent free they could have saved enough to buy a flat pretty much anywhere but they haven't so that's their fault, not yours!

dandy-candy

Just did probate for my mums estate last year. You cannot be stopped or delayed in getting your share. If one refuses to sell the property it goes to court and he either agrees to sell or has to pay you your share from his own money in full. End of.