Force house sale

Redscope77

The property is worth about 170k.
I'm not sure how comfortable I would be splitting 50/50 mainly because I know how much he took from our parents over the years (which is part of the reason we are estranged). That said, it's a good point and I will certainly think seriously about it.

foxy-stoat

£30,000 is a big number to give away - get some quotes from solicitors and start the ball rolling. You will need some guidance with regards to CGT also.

Redscope77

foxy-stoat wrote: »

£30,000 is a big number to give away - get some quotes from solicitors and start the ball rolling. You will need some guidance with regards to CGT also.

Yes 30k is a lot

Redscope77

thanks...i've corrected the typo

lookstraightahead

Yes that is a lot. What a sorry mess. X

lookstraightahead

One more thought - if you did ckne our with 2/3 he might still chuck his toys out about the selling price so try not to lose money there.

ReadingTim

foxy-stoat wrote: »

£30,000 is a big number to give away - get some quotes from solicitors and start the ball rolling. You will need some guidance with regards to CGT also.

In isolation, yes.

In terms of the suggested value of the entire property, it's c.18%, and that's not such a big percentage.

But, if you've got the time, money and mindset you could take a gamble and hope that you can force him via the legal system for a smaller amount.

Thrugelmir

Redscope77 wrote: »

Yes 30k is a lot

Worth using a solicitor initially. Might focus your brother's attention. Often the threat of a solicitor's letter is enough. Shows how serious you are taking the matter.

TBagpuss

Who is the executor of your parents' estates? Normally it would be their responsibility to sell your parents' share of the property in order to distribute the estate.

If you and your brother are the xecutors, or if the will was written so as to leave you the houe rather than the value of it, then you would be able to force a sale by making a court application under ToLATA - get legal advice about how to do this - if you follow the correct steps then you may well be entitled to recover your legal costs from your brother.

it will however be a fairly long and expensive process.

Do you know what your brother wants? If he doesn't want to buy your share or to sell his?

How long ago did your parents pass? People grieve differently, and it is possible that his reluctance to discuss it or to agree a sale are to do with how he is grieving, particularly if the deaths are recent or were unexpected.

As a first step, I would suggest you met with a solicitor and get them to send an initial letter,perhaps setting out the options but also making it clear that if he doesn't pick one (and follow through) by a certain date you will take steps to force a sale.

your solicitor will be able to include the relevant bits about costs and ensure that you go through the correct procedure.

westernpromise

Well, £57k of the property is the OP's as of right, because he paid for it. The residual £113k is being split 50%, so I don't see why the brother should feel hard done by or entitled to 50% of something his parents didn't own. If that had been a £57k mortgage, would he expect the lender to waive that?

To give him £85k of the property would mean that the OP was reducing his inheritance. Instead of getting 50% of the £113k, he'd be getting about 25% of it. I wouldn't do that deal, personally.