Who is responsible for the upkeep of house prior to me moving in?

bethiboo

I have just inherited my mothers house and have to buy my 2 sisters out at £50,000 each, and I do plan to move into the property as soon as probate is passed which is currently taking longer than expected. Problem is in the meantime there are a few things need fixing/replacing/repairing. I have not had the property valued as yet, it was mums wish for me to move back home and 2 sisters get what she thought was a reasonable payout. I'm panicking now thinking what if the house is only worth say £120,000 they get 50 grand each and I get a house that needs 20,000 spent on it to put right?
I know this may sound cold and callous but I really do need to know, as I will not recieve any money whatsoever only the house, and dont see why I should have to put any money into it while it's not actually mine.

thelem

It it the responsibility of the estate. Where has the £50k figure come from if you haven't had it valued yet?

Bluebonnie

The executor of you mother's estate is responsible for the house, and any other assets of hers, until distributed in accordance with her will.

Who is the executor? Is he/she aware of the maintenance issue?

agrinnall

The executor is responsible for your mother's estate until probate is granted, who is that? I would have thought that only essential maintenance could be carried out until then, for instance if there's a storm and roof tiles are lost then they could be replaced, but decorating wouldn't be allowed. The cost of repairs should be met from your mother's estate; if the only asset is the house then who pays really depends on how the will is worded - if it says your sisters get £50K each and the residue goes to you, then I would see that as you having to pay any house expenses.

This is only my opinion, I think you should really be seeking proper legal advice on this.

bethiboo

agrinnall wrote: »

The executor is responsible for your mother's estate until probate is granted, who is that? I would have thought that only essential maintenance could be carried out until then, for instance if there's a storm and roof tiles are lost then they could be replaced, but decorating wouldn't be allowed. The cost of repairs should be met from your mother's estate; if the only asset is the house then who pays really depends on how the will is worded - if it says your sisters get £50K each and the residue goes to you, then I would see that as you having to pay any house expenses.

This is only my opinion, I think you should really be seeking proper legal advice on this.

That's what I thought, the front bedroom window is P***ing in and the executor (brother in law) brought it to my attention and said I've just put towels on the windowsill!
How do I approach the subject of these repairs being made?

G_M

Is ther other money in the Estate? If so, the Executer (brother-in-law) can use it for essential repairs. However what is defined as 'essential' might become a significant matter, depending on who gets what in the will.

For example, if the property goes to X,Y & Z (you and sisters), with 'the Remainder' (eg cash, investments etc) going to A (eg a friend), then taking money from 'The residue' to increase the value of the property (by doing repairs etc) would eat unfairly into what A will inherit!

The Executer must balance his responsibility to protect the value of the property (not let it deteriorate), against his responsibility not to deprive others of theri inheritance.

Thrugelmir

bethiboo wrote: »

I have not had the property valued as yet, it was mums wish for me to move back home and 2 sisters get what she thought was a reasonable payout..

Did your late mother leave a will?

This will determine matters.

moneyistooshorttomention

In your position I would want to ensure that all three of us - ie sisters and myself - got an exact one-third share of the estate as a whole (don't know if the estate is just the house - or if there are savings, etc, to take into account as well).

So - I would get the house valued as it stands at present (average of 3 valuations to be taken as figure its worth). Once it was clear just how much money there was in the estate as a whole then it would be possible to see whether I needed to pay the sisters more or less than the £50,000 each to ensure we each had exactly the same "value". I wouldnt just hand over a fixed £50,000 each - in case it was either too much or not enough. I would wait to see those "final figures" to know that exact amount due each.

Either way - I wouldnt be paying for any repairs etc at all on the house until it was mine. If you do, then you have just made the house worth more and your sisters might expect a third share each of the "reward for effort YOU have made".

So - either leave the repairs until its yours or you all pay one-third each of the cost of the repairs and get them done now.

ValHaller

I think that the issue of the repairs is a bit of a red herring until we know more.

What really matters is what the will says. Does it give the house to the 3 of you equally - with an informal understanding with your mother that you should pay your sisters £50,000 each? Or does this will actually stipulate the £50,000?

If you don't have £100,000 you will have to take a mortgage - and if your income is not high enough or the house is valued too lw, you won't get a mortgage.

In your position, I would be getting the house valued and taking it from there. If it is worth less than £150,000 and you still want it, it may be better to let the executors sell it but buy it yourself on the open market, rather than inherit within the estate.