Will and living in dads house

Jeanie_84

nom_de_plume wrote: »

Don't forget putting the property on the open market would entail estate agents fees and other expenses to slightly reduce real final value.

Thanks.

Yes that would be the rational approach.As co executor what happens if I say I don't wish to put it on the market as the values are fair?

Yorkshireman99

Jeanie_84 wrote: »

So he should be paying 20% towards all costs or 50%?



I am not scared of him but someone who you don't have a positive relationship with who can turn up 24/7 in your home is not really great atmosphere for a child.

I was left feeling positive following some of th earlier advice on this forum and now I am completely back to square one.

Having read the whole thread again I can't help feeling you would be better out of it but it is a big upheaval. Exactly how is really up to you. Mediation could be the route that is the best solution but if it will not work then you have to force a sale. Sorry I can't offer any other solution.

Jeanie_84

Yorkshireman99 wrote: »

Having read the whole thread again I can't help feeling you would be better out of it but it is a big upheaval. Exactly how is really up to you. Mediation could be the route that is the best solution but if it will not work then you have to force a sale. Sorry I can't offer any other solution.

Thank you for reading it all again, feels this started a life time ago.

Yes it would be an upheaval and a bitter pill to swallow when the solution is so straight forward.

So if he wants it sold do I really not have a say despite having the bigger share or being the co executor?

Yorkshireman99

Jeanie_84 wrote: »

Thank you for reading it all again, feels this started a life time ago.

Yes it would be an upheaval and a bitter pill to swallow when the solution is so straight forward.

So if he wants it sold do I really not have a say despite having the bigger share or being the co executor?

Sorry but you don.t. However if it goes on the open market there nothing to stop you buying it unless he really is utterly stupid. Your own solicitor could arrange everything so he did not know you were the buyer.

Jeanie_84

Yorkshireman99 wrote: »

Sorry but you don.t. However if it goes on the open market there nothing to stop you buying it unless he really is utterly stupid. Your own solicitor could arrange everything so he did not know you were the buyer.

Thanks, helpful to know as perhaps I misunderstood an earlier post which stated a sale couldn't be forced if ther was a buy out offer so this news is bit a game changer.

Lots to think about now including the large amount of money I have invested in the properly including paying the stamp duty when it was purchased.

getmore4less

nom_de_plume wrote: »

Don't forget putting the property on the open market would entail estate agents fees and other expenses to slightly reduce real final value.

loose change when dealing with a £500k house the valuation could be +-£25k.

the OP needs to progress to a solution ideally by agreeing a buyout..

Refusing to put it on the market creates deadlock, if the brother is not happy with the price or wants to test the market.

the OP says they will have the money by April that may focus the brother, cash now or maybe have to wait for months.

Jeanie_84

As mentioned on this thread and also by the Solicitor, a beneficial interest could be declared by myself - all the money I have put into the property. When I went through these it well exceeds the 40K I mentioned on this thread.

I would be more than happy to go down these route.

When you say deadlock, what happens in that case?

Also on another thread I read it costs to force a house sale. Is that true?

Thank you

getmore4less

Remember based on £500k 80:20 any beneficial interest you claim only 20% comes off.

Even with £100k beneficial interest he is still due £80k

Yorkshireman99

Jeanie_84 wrote: »

As mentioned on this thread and also by the Solicitor, a beneficial interest could be declared by myself - all the money I have put into the property. When I went through these it well exceeds the 40K I mentioned on this thread.

I would be more than happy to go down these route.

When you say deadlock, what happens in that case?

Also on another thread I read it costs to force a house sale. Is that true?

Thank you

I does cost because an application has to be made to the court if the owners cannot agree. Your brother would be likely to gave to pay the costs. Nobody on here can help much until you make up your mind. You really need to speak to your soilicitor about the options and then act on their advice. The ball, as they say, is in your court.

Jeanie_84

Yorkshireman99 wrote: »

I does cost because an application has to be made to the court if the owners cannot agree. Your brother would be likely to gave to pay the costs. Nobody on here can help much until you make up your mind. You really need to speak to your soilicitor about the options and then act on their advice. The ball, as they say, is in your court.

Thanks, I understand that, I'm trying to get a picture of my rights are as someone living in the home and a beneficiary. Plus with contradicting advice from two solicitors and in part on this thread it left me a little confused.