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Half share home
cyclonebri1
Posts: 12,827 Forumite
I have a half share in my deceased parents home. My brother has the other half,
The will terms stippulated that he could live in the property given he kept it insured and in good state of repair until he married.
Is there any way his debts if they happen in future can impact this?
The will terms stippulated that he could live in the property given he kept it insured and in good state of repair until he married.
Is there any way his debts if they happen in future can impact this?
I like the thanks button, but ,please, an I agree button.
Will the grammar and spelling police respect I do make grammatical errors, and have carp spelling, no need to remind me.;)
Always expect the unexpected:eek:and then you won't be dissapointed
Will the grammar and spelling police respect I do make grammatical errors, and have carp spelling, no need to remind me.;)
Always expect the unexpected:eek:and then you won't be dissapointed
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Comments
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cyclonebri1 wrote: »I have a half share in my deceased parents home. My brother has the other half,
The will terms stipulated that he could live in the property given he kept it insured and in good state of repair until he married.
Is there any way his debts if they happen in future can impact this?
On his share, yes.0 -
In a worst case scenario, his creditors could obtain charging orders against his interest in the house, and could then apply for an order for sale. If that happened, you would get your 50%, the debt would be repaid from his 50% and he would get any remaining balance.
I presume that the property is now registered in your joint names?All posts are my personal opinion, not formal advice Always get proper, professional advice (particularly about anything legal!)0 -
The will terms stippulated that he could live in the property given he kept it insured and in good state of repair until he married.
One way of guaranteeing he never marries!I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
In a worst case scenario, his creditors could obtain charging orders against his interest in the house, and could then apply for an order for sale. If that happened, you would get your 50%, the debt would be repaid from his 50% and he would get any remaining balance.
I presume that the property is now registered in your joint names?
Yes all done and resting with solicitorsI like the thanks button, but ,please, an I agree button.
Will the grammar and spelling police respect I do make grammatical errors, and have carp spelling, no need to remind me.;)
Always expect the unexpected:eek:and then you won't be dissapointed0 -
One way of guaranteeing he never marries!
Common practice I'm told in the case of 2 beneficiaries, more to prevent "after marriage squatting" I'd have thoughtI like the thanks button, but ,please, an I agree button.
Will the grammar and spelling police respect I do make grammatical errors, and have carp spelling, no need to remind me.;)
Always expect the unexpected:eek:and then you won't be dissapointed0
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