Inherited half a house

DavyJones61

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ProDave

Could she not rent your half? She will be saving money by not renting elsewhere.

DavyJones61

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ViolaLass

Did your father have a mortgage?

Thrugelmir

DavyJones61 wrote: »

Can anyone see any problems with this arrangement?

Totally your decision. You can do with the property as you wish. What if you outlive her?

mark55man

The only problems that I can see are if you fall out, or your own circumstances change so that you pick up other responibilities. Only you knew if that's likely and how much you'd care about the house if you did. eg not sure how old you are, but your share of the house could be 3-4 years early retirement

I did think of you suggesting to her she put aside a notional rent so that she would have the money to do repairs (or maybe even go half with you), but that might smack of micro management (aka beung bossy) - and maybe not appropriate advice for siblings

Owain_Moneysaver

Depending on where in Scotland, but there are plenty of places where you could sell the house, get £100k each, and that would be enough for her to buy a flat or small house.

KL0001

I can!!!8217;t see any problems with this as you are. I!!!8217;m not sure if it!!!8217;s different in Scotland, but in England I!!!8217;d suggest the property was held as tenants in common, with an equal share and to have a will in place to decide who gets what when one of you passes away.

If she passes first I assume her share would go to her son, would you be happy to allow him to continue to live there (if he still is). Who would you pass your share on to in this situation?

If you were to marry? Have children? You could change your will in the future so that your share could go to them. You could put in place that your sister can remain in the property if you wished.

What I!!!8217;m trying to say is, it seems fine, but do consider all eventualities and make sure they are covered.

moneyistooshorttomention

I hope she appreciates what a generous brother she has.

Followed by wondering if I can swop my brother for you:rotfl: (as he must be about polar opposite of you...).

mark55man

PS - Maybe not give her your half until everything has settled down. Not quite the same, but a friend of my OH gave her sister her old car instead of part exchanging it so only £2K. Her sister then sold it and that caused ructions. If you are happy with that sort of thing then fine, but it seems your sister is not expecting that and good for her

I think its a very nice gesture you are making and one that hopefully will bring you closer rather than cause friction over the years

Smodlet

You sound like the kindest of brothers (assuming you are male from your username; sorry if this is not so) but circumstances can change. As others have said better than I, please consider every eventuality before just handing over £100k.

What if you suddenly found you needed a large sum of cash and had no other way to find it than selling your half of the house? What if your sister gets married? Will you be happy potentially giving your half to her husband if she passes before you and him?