Late fathers House selling

diggingdude

I would take your share of the money then never speak to them again. Make sure everything is left to your children etc so they can't get anything should you die before them

unforeseen

davidmcn wrote: »

I don't think that's right - the consideration for SDLT purposes is just going to be the net price being paid to the other beneficiaries.

Surely it would be the full price because the op is buying it off the estate not the sisters

buggy_boy

unforeseen wrote: »

Surely it would be the full price because the op is buying it off the estate not the sisters

I agree, the property is currently owned by your late fathers estate, you do not actually currently own a portion of the property and are not on the land registry as the owner. You would be buying the entire share from the estate so would be liable for SDLT on the entire purchase...

Life is sometimes too short, I mean if you really want it there are ways of acquiring the property.. It may be a case that your sister cannot afford to buy it and does not want you to have it, siblings can be very jealous. For the sake of an easy life id just leave it.

00ec25

unforeseen wrote: »

Surely it would be the full price because the op is buying it off the estate not the sisters

No

SDLT is based on "chargeable consideration exchanged"
OP inherits a % of the property as his own share, therefore is not "buying" that % share if he pays the estate to purchase the remaining share(s) of the property.

so the chargeable consideration is the cash he pays to the estate, which obviously does not include him paying for his own share! The exchange is therefore the cash he pays in exchange for the share(s) he does not already own through his own inheritance.

https://www.gov.uk/guidance/stamp-duty-land-tax-the-amount-used-to-calculate-whats-payable#cc

unforeseen

OP is not inheriting 1/3. The will stipulates that the house is to be sold. Since sisters can't agree to the OP buying it then no DOV can be done to change that.

The op may consider their 1/3 of the sale price as a deposit but they will still be paying the full price.

moneyistooshorttomention

Well - certainly, whatever happens, I agree with the advice that (once this is resolved one way or another) then never have any contact with your sisters again and ensure you've got a Will made out leaving your "estate" somewhere anywhere else (in your case obviously to your wife first and then your children).

Hope you manage to find a way to buy the other two-thirds of this house and I don't get just why they are being so b*tchy to you.

Norman_Castle

scopex40 wrote: »

I offered them forty thousand each but they declined.

Who valued the house at 120K?

BrassicWoman

the will says the house is to be sold


probably to prevent exactly this sort of arguement


why would you go against the wishes of the deceased? I couldn't live in the hiosue if I had.

Davesnave

scopex40 wrote: »

My sisters do not understand these matters and do not like to see me get on. One sister claims our late dad said make sure me his only son does not get the house. He had dementia.

Perhaps your Dad did say that before his dementia became an issue. He may have foreseen that you'd be the only one of his children likely to buy, so considered it in the best interests of future family relations that you should not. Houses create all sorts of emotional attachments and feelings.

If it was when he was suffering from dementia, then it's irrelevant.

It's perhaps a little odd that you felt it necessary to refer to yourself as 'his only son,' which suggests your gender might somehow matter here.

Norman_Castle

BrassicWoman wrote: »

the will says the house is to be sold


probably to prevent exactly this sort of arguement

Unless the estate is worth at least three times the value of the house selling it is the only way for the three beneficiaries to receive equal shares.