My Mother & Sister maybe trying to sell my property behind my back..

nige_wales

Hi, I've been talking to my mother and have agreed to hand the property and business over to her as long as I have some documentation that she can sign assuring me I would get an equal percent share of any profit that's made from both the properties.

Does anyone know if I should I draw the document up myself or is there anything I can download from the net to use?

Thanks,

Nige

AdrianC

Great. So you've cheerfully waved goodbye to the capital value for a "share" of the "profit". Now why do I suspect this is suddenly going to prove very unprofitable...?

But anyway.
Yes, you could draw it up yourself.
Yes, you could download something from t'internet.

Or you could actually get professional advice. Yes, it might cost you a little - but it's VERY likely to prove the best investment you'll ever make.

nige_wales

AdrianC wrote: »

Great. So you've cheerfully waved goodbye to the capital value for a "share" of the "profit". Now why do I suspect this is suddenly going to prove very unprofitable...?

But anyway.
Yes, you could draw it up yourself.
Yes, you could download something from t'internet.

Or you could actually get professional advice. Yes, it might cost you a little - but it's VERY likely to prove the best investment you'll ever make.

When I stopped work at the family business my parents should have changed their wills then but due to their age they forgot to do it. I could take advantage of that and I could make a fuss that both properties are being sold too cheaply but I'm sure that to do all that would put too much stress on my mother and she's too old for that.

What's best for me would be way too stressful and cause some irreversible rifts, I don't think it's worth it..

time2deal

If you are all in agreement as to how to proceed, then a visit to the solicitors would be an excellent (and probably small) investment. Lawyers are expensive when you use them to fight, but to put together a watertight version of a verbal agreement it will be well worth it.

The will itself includes some ambigious wording (ie - "the business") which may appear perfectly clear to the person writing it, so rather than repeat the same mistake, some legal advice seems well worth it.

Re finding an agreement on the internet - good luck finding someone in exactly the same situation, with the same issues, and who was willing to upload their agreement that you can use. You also lose all professional insurance for any error or support if it goes wrong.

Why are you so resistant to getting legal advice? As AdrianC says its the best investment you can make. As you are already dealing with the legal ramifications of poorly worded documents I cannot understand why you wouldn't get proper advice.

MysteryMe

How many more times does the OP need to be advised to get legal advice before the penny drops?

gazter

!!!!!!, its like watching a car crash in very slow motion. Call a solicitor tomorrow. Get them to act on your behalf. Any cost will be outweighed by what you will lose when your family take you to the cleaners.

dancingfairy

You said you think the property would make at least 30k more than your family is planning to sell them for. This suggests to me there is some money. Surely it is worth paying £100 to a couple hundred to find out where you stand (it might even cost less than this for an initial consultation)?
You started off saying that your family were trying to sell this off behind your back, then you've now said you're basically going to sign a piece of worthless paper that says you will give up half the property and you've said your mum was lying to you etc etc. I really, really wouldn't trust anything your family are saying to you right now.
I would go to a solicitor with a copy of the will and find out EXACTLY what I was entitled to (whether this was the name of a business or a property or what). I would then ask how much it would cost to fight my family from selling something that isn't theres (assuming it is yours). You can then go home and have a proper think about it. From there you can decide whether to
a) walk away
b) negotiate with your family
c) fight for everything thats yours.
Do you think giving in to their demans is actually going to help? Can you forgive them? I understand you want a quiet life now, but how will you feel 6 months down the line, 5-10 years down the line.
I can't help but feel that your family are trying to take advantage of you in your grief and are trying to steal this from you.
If the entire business is yours then there is nothing to stop you carry on with it being rented and revisiting the issue in 6 months when you feel stronger to see if you still fancy giving it away to your family.
You really, really, really need legal advice (you don't even need to share this with your family) so you understand where you stand.
df

jamesd

nige_wales wrote: »

Do I NEED a solicitor?

Yes, you need a solicitor, urgently.

nige_wales wrote: »

What can I do myself? Isn't there any way that I could represent myself at all and what would be involved if I did contest the executors that they are not acting in the best interest of someone who should be inheriting.

You cannot send a letter from a solicitor yourself and even if you could you need help reading and interpreting the law and what the legal meaning of the will is.

nige_wales wrote: »

First I was told by her that I would get an equal share of anything she made. Then after she talked to my sister she informed me that I would get nothing, she said that she was keeping all the money but would pay me for any jobs I did fer her around the house and garden. Then after I made a big fuss she told me that she did not say that I wouldn't get anything and that I was imagining it and that I would get an equal share again. Then when my fathers will arrived I saw it and had a look at it. I had asked my mother to let me know when it had arrived so that I could check it bet she pretended to me that she had not had the will at all (even though I had seen it). When I told her I had seen it she pretended that she did not know that the will was in there.

If you continue as you are all of the property will be sold below market value and the mother and sister appear to be conspiring to split the estate between them leaving you with nothing other than the name of the business or money for a below market value sale of that name. If even that much.

You need to discuss this with a solicitor as soon a you possibly can.

time2deal wrote: »

nige_wales - the thing you can do yourself is find out who owns the property(ies). Go and download the title from the land registry. If it says 'Nige_wales business Ltd' as owner then it is part of the business, if it says 'Nige_wales father' the it is not and forms part of the estate.

A sole trader would often own the property in their own name even though it is an asset of the business. In such a case there would normally be accounts showing things like the capital value of the property as a business asset and perhaps showing borrowing to buy the property for the business originally. This sort of thing is particularly common in BTL businesses but it happens in others as well. There may also be agreements with the existing tenant of the business about what they are renting as part of the business that can support or contradict what is part of the business.

nige_wales wrote: »

Hi, I've been talking to my mother and have agreed to hand the property and business over to her as long as I have some documentation that she can sign assuring me I would get an equal percent share of any profit that's made from both the properties.

Does anyone know if I should I draw the document up myself or is there anything I can download from the net to use?

It appears that she is getting better at lying. Do not proceed in this way. You are going to lose almost everything that you are entitled to if you do.

There appear to be two properties involved, with one part of the business and left to you and the other intended for her and the one she was expecting. It appears that the sister may have tried to persuade her that all physical property was for her and none was for the business.

Your mother and sister need legal advice in interpreting the will correctly but it doesn't seem as though they are going to get that until you force the issue by getting such advice yourself.

Ulfar

I may have missed it but what type of business is it, was your father a landlord with a limited company.

In this case the property in question was it listed as an asset of the company. If it was then the property is part of the business and yours.

So many questions and such vague information. You do as others have said get legal advice.

nige_wales

So confusing. I was called everything today just trying to talk to her. I was told that I'm the only one making a fuss called greedy Etc. I tried to explain that in the will it says that the business absolutely is to go to me and all I want to do is to work out what we are to do. Then I was told all that she has done for me bla bla bla and it was clear that if I do contest anything the whole family will turn against me and as booksurr has said 'once someone is dead you cannot say sorry and start again.'

My mother is 80 and although I feel sure that she is being taken advantage of by the person renting, it seems my hands are tied. She absolutely believes that it is the best option and with my sister and brother on her side do I need all that stress and possibly damage my mothers health by making a huge fuss, is it really worth it?