Buying out sibling with loan on inherited property

fluffymuffy

towner wrote: »

SIL is offering to move herself and DH into the 1 bedroomed property to look after MIL when the time comes, but it is making me worry that SIL has an "agenda" to get into the property before MIL passes & this would make things difficult.

I have a SIL who has moved in with her elderly mother to help in her last years. She has no life of her own and spends all her time ferrying her mother to hospital appointments and GPs and waiting in for nurses. If when the time come SIL ends up living in the house then really she has deserved it.

xylophone

I have a SIL who has moved in with her elderly mother to help in her last years

I would be surprised if the property is a one bedroomed bungalow though!

I fear ( call me cynical) that if SIL and BIL are proposing to quit their (presumably rented) property to sleep in MIL's parlour, the suspicion must be that she is hoping that (if her brother is the executor), he'll be unwilling to sell the property "over her head" as it were?

Fire_Fox

This thread seems mercenary. It's not your mother nor your sister, you don't need to be worried nor get anything straight in your mind, it's none of your business if your husband gets bulldozed. It's money you have never had and never earned: enjoy your mother-in-law whilst you can and forget the dollar signs, get another job downsize or relocate north if you want to save for travel.

Mojisola

Fire_Fox wrote: »

This thread seems mercenary. It's not your mother or your sister, you don't need to be worried or get anything straight in your head, it's none of your business if your husband gets bulldozed it's money you have never had and never earned. Enjoy your mother-in-law whilst you can and forget the dollar signs.

I don't go along with the ostrich suggestion.

As long as everyone is aware that there is no inheritance until someone dies and that capital and property might all be used up in care fees, it makes sense to make good arrangements about these issues.

If a potential problem which could cause a lot of emotional upset and possibly a lot of money in solicitor fees can be sorted out while everyone is hale and hearty, it makes sense to do so. Coping with these things after a death when most people are upset and grieving is rarely the best option.

This kind of situation is one where it may well be best to have a solicitor as the executor if an objective friend or other family member can't be found.

Torry_Quine

I would say that just now the important thing is for your husband and yourself to enjoy having his mother around. She could change her will, need care or downsize herself.