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Can I sell my share of a property left in a Will?
BattleMoose87
Posts: 12 Forumite
I'm in a situation where my father's house was left equally to my step-mother and my brother and I.
I would like to release my equity in the property as I am currently renting a property and would like cash out my equity and put it towards a deposit for a family home. Herein lies the problem. Neither my sibling or I have any kind of contact with my step-mother having found out she had originally lied to us about the contents of our father's Will and claimed the property had been left solely to her.
Is there anyway to force through a sale of the property/sell my share of the property to her or someone else? Or are there any alternatives available? Talking to her is out of the question as she has failed to respond to other communications, so any contact required would be via a solicitor.
As a result of the house being left in part to me I am not able to utilise any of the Help to Buy or Lifetime ISA schemes currently operating.
I would like to release my equity in the property as I am currently renting a property and would like cash out my equity and put it towards a deposit for a family home. Herein lies the problem. Neither my sibling or I have any kind of contact with my step-mother having found out she had originally lied to us about the contents of our father's Will and claimed the property had been left solely to her.
Is there anyway to force through a sale of the property/sell my share of the property to her or someone else? Or are there any alternatives available? Talking to her is out of the question as she has failed to respond to other communications, so any contact required would be via a solicitor.
As a result of the house being left in part to me I am not able to utilise any of the Help to Buy or Lifetime ISA schemes currently operating.
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Comments
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No, you can't force her to sell or to buy you out. You can ask your brother to buy you out but if he can't then no one else will buy a third of a property.0
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No, you can't force her to sell or to buy you out. You can ask your brother to buy you out but if he can't then no one else will buy a third of a property.
Thanks for the prompt response.
So even if my brother and I, who own 2/3 of the property wanted to sell, we couldn't? I take it that taking a mortgage out on my share of the property is out of the questions, or borrowing against it?0 -
You would need to enforce your ownership rights via court (eg to force a sale). You can't take out a mortgage on the property.0
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No, you can't force her to sell or to buy you out. You can ask your brother to buy you out but if he can't then no one else will buy a third of a property.
Doesn't it depend on what the will says? Who is the executor, and what are they doing to ensure that the estate is distributed according to the will?
It might be worth posting in the Deaths, Funerals and Probate Board (under Marriage, Relationships and Families) for advice on what should be happening.Not even wrong0 -
Doesn't it depend on what the will says? Who is the executor, and what are they doing to ensure that the estate is distributed according to the will?
It might be worth posting in the Deaths, Funerals and Probate Board (under Marriage, Relationships and Families) for advice on what should be happening.
If the will gives the step mother a lifetime interest on the share of the house she does not own, then you can’t sell. If the will simply left the house 3 ways with no lifetime trust in place then yes you can force a sale if she won’t buy you out, but that could get expensive if she will not cooperate.0 -
I'm in a situation where my father's house was left equally to my step-mother and my brother and I.
Have you seen the will? What exactly did it say?
Has your stepmother been left a life interest in possession?0 -
Keep_pedalling wrote: »If the will gives the step mother a lifetime interest on the share of the house she does not own, then you can’t sell. If the will simply left the house 3 ways with no lifetime trust in place then yes you can force a sale if she won’t buy you out, but that could get expensive if she will not cooperate.
^^^^This.
Read the will carefully as I imagine the step mother will have a lifetime interest in the propety, so your share is stuck until she dies. This is normally what is advised when a share of a house has been left to someone other than the partner.
If she doesn't then she needs to be VERY nice to you, as you can take it to court and force her to sell. This is costly and in this situation I doubt a court would award costs.Should've = Should HAVE (not 'of')
Would've = Would HAVE (not 'of')
No, I am not perfect, but yes I do judge people on their use of basic English language. If you didn't know the above, then learn it! (If English is your second language, then you are forgiven!)0 -
https://www.howellslegal.co.uk/news/post/Applying-to-Court-for-an-Order-for-Sale.aspx
May be of interest if your stepmother does not have an interest in possession/right to reside etc under the terms of the will.0 -
I was in this situation many years ago, owning 1/4 of a property.
I was advised it was almost impossible to sell that share, and no way to force a buy out. I ended up selling my share to the other co owner for less than 1/4 of the property value, but the amount was all she could raise by a mortgage.0 -
I assume the step mother lives in the property, if so even without a life interest no court is going to force a sale and make her homeless.0
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