looseing home after probate 13 January 2014 at 5:34PM in Over 50s MoneySaving 34 replies 10.5K views

oriental333

My partner died a year ago from cancer. she died the night before she was going to finalize her will. We never married so I am aware that I have no rights. We was tenants in common. A deed of variation to her will was agreed. The executor of her will is her sons whom are also the beneficiary of her estate. The house that I live in is now split between myself and her two sons with myself having 2 thirds and they having the remainder. There was no mortgage protection on the property. During the last 12 months I have met the full mortgage payment that is destroying me. I live on 50 pence a day after all bills have been paid. The beneficiary don't pay any money towards the mortgage yet they expect that when the house sells that their percentage of their share remains the same despite me making full mortgage payments. The beneficiary solicitor has informed me that because I still live in The house that the sons don't have to pay because I have the benefit of the house. And also I should be paying the beneficiary rent. The mortgage company has not yet put their names of the beneficiary on the deeds and my partners name is still on them. extending the mortgage is not an option as I don't have the money to pay them off as it is a substantially amount. This is a nightmare that after 23 years together that my partner could have never had seen coming. Reposession looks like the only option left for me. any advice is most welcome. cancer took my partner and it has destroyed my last memories I have.

Buzby

This is one of the scenarios that should be shouted from the rooftops for co habitation couples - there is no protection unless there is a marriage certificate, and next of kin trumps a cohabitee every time.

You are given protection insofar as you have the majority shareholding, but only if you keep up the payments. If you do not and there is a repossession, the family of the deceased can whistle - they lose their 'gift'. Under law they are entitled to the moveable estate value only (this does not included property) only when your interest is bought out do they gave free reign.

I'd suggest you get a solicitor to review your options as if you find yourself in dire straits getting the family to pay the mortgage in return for you deeding the property to them following your death might be an amicable solution. However, only your inability to pay the mortgage is working against you, and if you stopped paying and the house repossessed, depending on the amounts owing, there could be nothing in it for the family either - so get advice quickly to find out your options

oriental333

would love to make use of a solicitor but unable to meet the costs that they charge. yes you are right about it should be shouted from the hill tops. that is why I need the advice from here before my phone gets cut off. I have enough debt and enough worry and enough loss. my main concern is trying to keep what was our home but the beneficiarys! /executor have the right to take the share of the proceeds of the property with me making the payments with no contribution from them. I would be happy if the law was because they made no contribution towards the mortgage and because I had paid the last 13 monthly payments that their entitled to a reduced amount but again according to the solicitor who acts for the beneficiary this is not the case

cupcake4

Your local Citizens Advice Bureau will give you free legal advice.
Look them up and go there NOW.
Many lawyers give 30 minutes advice "pro bono" - look up your local high street, or go in if you are worried about the phone.
I don't know where you are based but there are various financial advice centres, you can look them up online.

Bantex_2

The main thing that should be shouted from the rooftops is to make a will.

Mojisola

Wouldn't you be better off selling the house and renting somewhere?

cattie

Perhaps you could get some advice or help from Shelter regarding the possibility of finding alternative accommodation as it seems whether the house gets repossessed or is sold in the usual manner, you will need to find a new home.

If you are over 55 you might qualify for housing from your local council as many local authorities have properties specifically for the over 55's.

getmore4less

Are you sure they have the split right?

What shares were TIC?
How much was it valued at what was the mortgage?

For them to get the share she owned they might need to pay off that share of the mortgage

What deed of variation was done?

If you can't afford it then selling may be an option, having joint finances in this way is not ideal long term.

getmore4less

Would the will have just given you house or additional funds to cover some or all of the debt?

Without funds would you have been unable to pay the mortgage anyway?

SevenOfNine

As you are in the "Over 50's Money Saving" forum, is it likely you are old enough to pop into your local Age UK office for some freebie help/advice on all this (50+)? They usually have a weekly visit from a solicitor (well, ours does) - perhaps worth investigating, you may be able to find some info for them on-line.

Savvy_Sue

I saw this on another thread and wondered if it would be relevant / helpful?

meercatsunited wrote: »

you may qualify for this if it is still running.

it would allow you to stay in the property and pay a reasonable rent to the local housing association. plus you would have a few bob in the bank.

https://www.gov.uk/mortgage-rescue-scheme

Obviously the situation is complicated by the joint beneficiaries situation but might concentrate their minds if repossession is a likely outcome of the present situation.