Will and living in dads house

Yorkshireman99

Jeanie_84 wrote: »

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.

At some point you are going to have to decide which professional advisor you trust. People on here only have only part of the picture and are not professionals. It is YOU who need to make your mind up. I don!!!8217;t think posting will help any more. It is just going over the same ground again and again. Sorry to be blunt.

getmore4less

The default do nothing situation is you just stay living there untill someone makes a move to resolve the situation

No court is going to kick you out, worst case they instruct a sale at a price you can't afford(if there is a buyer).

I don't think this was mentioned but a potential scenario that a court may consider(If asked) is an interest in possession till your child adult(over 18 and finished full time education) if the brother won' let you buy him out.
effectively that delays the forced sale.

I think the most important thing for you to do is to have sorted finance so you can move fast to a buyout resolution.


How far away does your brother live.

nom_de_plume

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.

Presumably if the OP goes this route (buying off the estate rather than inheriting) she could be liable for a circa £15,000 SDLT bill. That would pay for a lot of legal advice.

Also if brother can force this situation he could presumably object to specific purchasers.

OP I suggest you find a Solicitor whose speciality is contentious probate.

getmore4less

nom_de_plume wrote: »

Presumably if the OP goes this route (buying off the estate rather than inheriting) she could be liable for a circa £15,000 SDLT bill. That would pay for a lot of legal advice.

Also if brother can force this situation he could presumably object to specific purchasers.

OP I suggest you find a Solicitor whose speciality is contentious probate.

That's not how buying of the estate would work, the consideration stays the same £100k(ish) as you still have your beneficial interest

Unless she has another house we have not been told about and the 3% kicks in SDLT is zero.

nom_de_plume

getmore4less wrote: »

That's not how buying of the estate would work, the consideration stays the same £100k(ish) as you still have your beneficial interest

Unless she has another house we have not been told about and the 3% kicks in SDLT is zero.

Which means we're basically back to square one. OP almost certainly needs specialist professional advice and should be questioning likely candidates as to their experience in the field.

Jeanie_84

Yorkshireman99 wrote: »

At some point you are going to have to decide which professional advisor you trust. People on here only have only part of the picture and are not professionals. It is YOU who need to make your mind up. I don!!!8217;t think posting will help any more. It is just going over the same ground again and again. Sorry to be blunt.

Thanks, it's good be blunt and I agree with you. I guess I am looking for some light in the dark and clutching at anything positive that gives me an element of security while it's being sorted.

Jeanie_84

getmore4less wrote: »

The default do nothing situation is you just stay living there untill someone makes a move to resolve the situation

No court is going to kick you out, worst case they instruct a sale at a price you can't afford(if there is a buyer).

I don't think this was mentioned but a potential scenario that a court may consider(If asked) is an interest in possession till your child adult(over 18 and finished full time education) if the brother won' let you buy him out.
effectively that delays the forced sale.

I think the most important thing for you to do is to have sorted finance so you can move fast to a buyout resolution.


How far away does your brother live.

Hi. The finance is sorted now and I will 200k in April so it could be straight forward and in reality it should be. That's an amount beyond the 20% but thats what I have available.

nom_de_plume wrote: »

Which means we're basically back to square one. OP almost certainly needs specialist professional advice and should be questioning likely candidates as to their experience in the field.

I have spoken to another Solicitor today who seems to have more of an in depth knowledge in this field. Downside is the initial chat costs £250 per hour but perhaps it's worth it.

getmore4less

Jeanie_84 wrote: »

Hi. The finance is sorted now and I will 200k in April so it could be straight forward and in reality it should be. That's an amount beyond the 20% but thats what I have available.

That's one hurdle out the way unless it is to be secured against the property then there may be a couple of things that need to be done carefully depending on the lender

I have spoken to another Solicitor today who seems to have more of an in depth knowledge in this field. Downside is the initial chat costs £250 per hour but perhaps it's worth it.

An intermediary is clearly the way to go so will be worth a few £k.


Now you can put a timeline on the situation and have sufficient funds to make a very generous offer, that gives your brother less(no) wiggle room to bring up things like when can you get the money, how long will it take etc. best to just sell it...

Jeanie_84

getmore4less wrote: »

An intermediary is clearly the way to go so will be worth a few £k.


Now you can put a timeline on the situation and have sufficient funds to make a very generous offer, that gives your brother less(no) wiggle room to bring up things like when can you get the money, how long will it take etc. best to just sell it...

Thank you. Ironically I found out today a house close buy up values at 2 million (wow) is in a similar situation. Sister has the money to buy out brother but brother refusing due to jealousy that the sister has the funds to do that.

So obviously sibling issues run deep.

But thank you for the advice, it is appreciated during what is a difficult time. Loosing both my parents are been hard and sadly loosing my brother as well but for different reasons. But sentiment aside I just need to plough on with it.

YoungBlueEyes

Jeanie_84 wrote: »

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.

Hi Jeanie
It was me that said he couldn't force a sale if you were offering him a fair buyout amount.
I'm in a kind of similar situation (recently passed father, me + sister co-execs, one house, she wants to move out and needs funds to do so, but I reallly want to stay). My solic told me that she couldn't force a sale if i didnt agree to it as long as I bought her out for half the value of the house. Mind you he also told me I could do probate on my own if Becky didn't agree to it, so it seems I have a kooky solicitor :think: