Been screwed over inheritence!

FBaby

For info, I bought my house, a 30s 3 bed semi, same than all the others on the road at a discount of about 20% compared to the rest of the houses because it needed so much renovating. However, we managed to renovate (over the years) for much less than the 20% difference. This is why many people choose to renovate houses as investments (in my case, only because it was all we could afford!!)

Mojisola

Mojisola wrote: »

Get a copy of the accounts and the will so you can see exactly what they say.

Are you going to do this?

hardpressed

The valuation of the house for probate will give you an indication of what it was worth, although probate valuation is usually less than the sale price it's still a useful conparison.

no1catman

FBaby wrote: »

For info, I bought my house, a 30s 3 bed semi, same than all the others on the road at a discount of about 20% compared to the rest of the houses because it needed so much renovating. However, we managed to renovate (over the years) for much less than the 20% difference. This is why many people choose to renovate houses as investments (in my case, only because it was all we could afford!!)

Yes, I understand this - and that's what I imagined had happened.
Problem is, that's not what did happen i.e. it's nearer 40% discount off the average of three neighboroughing houses (excluding one too high implies 4-bed not 3).

Fire Fox:
OK language here could 'confrontational' and even ill-tempered but that's not the tone I've used to my brother/sister-in-law via email.

Mojisola:
See above - waiting for a reaction before I can go any further.

Tiddlywinks

Let's get back to the basics:

Was there a will?

Who is/was executor of the estate?

How often have you been in touch with your brother and sister to discuss the winding up of the estate?

Was there a charge on the property (for carehome fees, equity release or whatever)?

Were three independent valuations made of the property?

What other assets / liabilities were there for the estate?

Mojisola

no1catman wrote: »

See above - waiting for a reaction before I can go any further.

Why wait - you won't know whether the reply you get is right unless you have seen the paperwork.

Stressed_Out

When I saw the title of this thread I thought I'd typed it..I've been totally screwed over but not by siblings by the widow. I will write a thread at some point but it's all it bit raw at the minute.

Sorry can't help you but just to let you know you're not alone sadly it happens.

SAHD_Jim

If I had a pound for every inheritance I'd heard of that ended in acrimony I'd have over a fiver.

no1catman

Mojisola:
Been to the Probate Office - now have copy of the will.
Whereas I previously understood it went three ways, with maybe some smaller bequests, turns out its gone four ways. That is three at 25%, SIL & DIL at 10% ea, and five grandchildren at 3% ea. Or put another way - one family gets 39% another 36% and finally 25%.
Whilst on the one hand its a big explanation, it still doesn't explain the house. If the house was split between three - then it equals £210k - that I can believe, but being now that it's by four it equals £186,666.67 - an odd amount. Moreover, much lowever than - if I had been asked I would have agreed to.

Mojisola

Does the will say that house should be sold by the executor and the money distributed or that all of you become owners of the house?

Have you got a copy of the accounts yet?