Inheriting 50% of a house from parent + receiving rent

getmore4less

katy123 wrote: »

Sorry, should have mentioned, no life interest. Just a normal gift in will (not to trust or anything like that). Partner maintains the place.

Try get rent expect to contribute to maintenance.

Normal landlord rules won't apply.

Malthusian

Margot123 wrote: »

There was a recent case featured on the TV programme 'Can't Pay, We'll Take It Away'. Daughter had lived with her Father for several years, sadly he died but even more sadly had left the Daughter out of the will and bequeathed the property to his girlfriend who didn't live with them. It took 15 years for the girlfriend to seek and take possession of the house! This gives some idea of timeframe (and there would have been massive Court costs too) when dealing with someone living in the property who WASN'T in the will.

Presumably for most of that 15 years the girlfriend was sitting on her hands and hoping the daughter would move out of her own accord, rather than the court case and eviction process taking 15 years. Surely?

jackyann

I wonder who is living in the property?
I too would wonder if the non-resident beneficiary would find it worthwhile to charge rent, given all the responsibilities that come with that. Also, even in these difficult times, property prices, except in a few cases, are going up, so in the long term she is not going to miss out.

However, it might be worthwhile talking to a solicitor, and writing a letter, so it is clear to the resident what is going on. Otherwise the resident may happily sit there for years, with the precedent of'not charging' well established.

I have some friends who were in a similar position, and because of family peace, kept quiet. In all fairness, the resident maintained and improved the property to a high standard. When he finally agreed to sell up and the proceeds were split, the amount was way higher than any normal investment would have returned. But having said that, I know one beneficiary could have done with the money earlier!