Value of estate?

Jimpoplay

getmore4less wrote: »

What about the mortgage?

This is getting quite complex and the information is still not sufficient to even answer your relatively simple first question

Is there anywhere you want to go with this other than get your £20k?

Joint owner paid the outstanding balance on the mortgage , that and other expenses he has incurred total £11000 so far.
I thought my £20k loan repayment, I was entitled to, that's just a matter of when.
I would like more than 15% share of estate to reflect our relationship.
I Don't see why mother is demanding 70% and joint owner is agreeing

Yorkshireman99

Jimpoplay wrote: »

Joint owner paid the outstanding balance on the mortgage , that and other expenses he has incurred total £11000 so far.
I thought my £20k loan repayment, I was entitled to, that's just a matter of when.
I would like more than 15% share of estate to reflect our relationship.
I Don't see why mother is demanding 70% and joint owner is agreeing

It is very harsh but under the intestacy rules it seems you are not entitled to anything from the estate except repayment of the loan.

Jimpoplay

Yorkshireman99 wrote: »

It is very harsh but under the intestacy rules it seems you are not entitled to anything from the estate except repayment of the loan.

I thought there was NOTHING in estate! After debts were paid.
Are we saying the property IS part of estate then?
And the issue of the figures on L.O.A??

getmore4less

given the lack of info I have to make some assumptions.

The 6 month you mentioned probably relates to claims against the estate after grant, not always easy as you have to show financial dependence anyway.
(that is a very simplified explanation)


Any beneficial claim you have on the property would not be against the estate in the first instant but against the surviving joint owner.

The estates claim would probably be of a similar category.

Do you have anything to support your claim for a beneficial interest in the property?

As the joint owner contributed nothing to the property I can see why they may have seen reason and avoided the risk failing to defend a claim.

if you gave the solicitor all the relevant information particularly relating to any beneficial claim on the property they may have called it right.

Jimpoplay

Is the estate claiming equitable interest "with clean hands"

getmore4less

Jimpoplay wrote: »

Is the estate claiming equitable interest "with clean hands"

what are you trying to ask?

Jimpoplay

Has their conduct been proper

Yorkshireman99

Jimpoplay wrote: »

I thought there was NOTHING in estate! After debts were paid.
Are we saying the property IS part of estate then?
And the issue of the figures on L.O.A??

You seem to expect that you have some claim on the property that forms part of the estate in the sense that half the value has too be included for calculating the IHT liability. From what you have said the vale was wrongly declared but it seems it does not make any difference to any IHT liability that seems to be nil. From what you have said although the administration seems to be somewhat shambolic no real harm has been done though your claim for the loan has been delayed. As far as I can see you have no legal claim for a part of the property but may benefit by a gift of part of the value. As far as I can see you will just have to wait and see.

Jimpoplay

I would like to say thanks to everybody who has contributed to this thread, for their time and knowledge imparted, THANK YOU ALL.
I feel hurt and let down by my partners family not seeming to acknowledge our relationship. But I guess my partner and I are to blame for not ratifying our relationship or having any financial planning in place.
I am certain this is not the scenario my partner would have envisaged.
If I may ask one more question before we conclude.
Would the surviving joint tenant (holding title absolute)be within his rights to negotiate an alternative division of proceeds, than the one proposed by the mother?

Yorkshireman99

Jimpoplay wrote: »

I would like to say thanks to everybody who has contributed to this thread, for their time and knowledge imparted, THANK YOU ALL.
I feel hurt and let down by my partners family not seeming to acknowledge our relationship. But I guess my partner and I are to blame for not ratifying our relationship or having any financial planning in place.
I am certain this is not the scenario my partner would have envisaged.
If I may ask one more question before we conclude.
Would the surviving joint tenant (holding title absolute)be within his rights to negotiate an alternative division of proceeds, than the one proposed by the mother?

It is a desperately sad situation to be left in. It emphasises the importance of everyone making a will and keeping it up to date even from a young age. The surviving joint tenant can dispose of the property as they see fit and have no obligation to gift any of it. Given the circumstances they could give it all to you or grant a life tenancy to you.