Shared Property with Sibling Problem

elsien

You really aren't being selfish. You are being realistic about what is manageable for you. Your sister isn't going to lose out by the house being sold, it just means that she will have a lump sum of the equity rather than a monthly income. Just because they are calling you something doesn't make it true. 
Does your sister work? As if not, that would be a good way to get an ongoing monthly income if she is so desperate for it. 

Morrigan_2020

slayerofangels said:

Morrigan_2020 said:

I'm struggling to understand the timelines, under 18s can't own property in the UK as far as I am aware so how did you end being a landlord before you were even an adult?  When was the ownership transferred into your names and how?

I never said I was a landlord before the age of 18, just that I inherited a house. I can't remember when specifically the ownership was transferred or all the details regarding the process - it was over a decade ago and as stated previously, for a lot of the process I was kept in the dark.

I do know that me and my sister are the registered house owners though - if that's what you are trying to get at - as I checked with land registry. 

I'm glad you checked, that will be important for selling it!

gettingtheresometime

If you're finding the process of being a landlord stressful then tell (not ask, tell) your sister & family that a letting agent will be appointed for the day to day management, the costs of which will be shared by you & your sister. If they don't like that idea then tell them the only other thing you'll consider is for the property to be sold.

I don't want to be the bearer of bad news but you do realise that when you come to buy a property that you want to live in, you'll have to pay the extra stamp duty as that will be considered to be your 2nd property 

RAS

Alternatively, if the house is anywhere you'd consider living, remove the tenants, move in,  and pay your sister half the old rental, less repairs. Get a lodger or two to cover the sister's rent? At least that way you aren't responsible for two properties.

I do hope by the way that your sister is sorting out her own HMRC accounts now?

essex123456

Put your own oxygen mask on first, sell the house - you might need to force this via court order, but it will save you sleepness nights and anxiety.

LudaMusser

If you’re sister doesn’t want to sell the house then sell your share. This is not good for your health. Your sister sounds like a freeloader who is happy for you to do all the work and she just takes the rent. Get legal advice, don’t trust your mum and sister and sell your share asap

mason's_mum

LudaMusser said:

If you’re sister doesn’t want to sell the house then sell your share. This is not good for your health. Your sister sounds like a freeloader who is happy for you to do all the work and she just takes the rent. Get legal advice, don’t trust your mum and sister and sell your share asap

it's actually quite tricky to sell half a house!
Family politics are always difficult, and you might have to ruffle some feathers to get the outcome you want. It sounds like it's time you put yourself first as it seems that nobody else is going to!
good luck and remember things can sometimes get worse before they get better.

sammyjammy

So you are doing your tax returns, who is doing hers?  If nobody then I would inform HMRC, Eventually she'll want to sell up to pay her tax bill for the last however many years?

Verix

slayerofangels said:

 in a few years it would be nice to know that I have the money readily available for when I want to buy a home (I am still renting atm). However there seems to be no way going around it without being painted as a monster...

I think it's certainly best for you if you sell, but i would be tempted to use your potential future home ownership as the main reason. For one thing selling the house would give you your deposit which you'll obviously need if you want a place of your own. Plus if the property is now owned jointly with your sister you would be liable for additional stamp duty if you bought a new place without selling first. Buying a house for £200,000 as an existing home owner would mean paying an extra £6,000 in fees. 

Your mum might felt slighted because she feels she's tried to set you up well with this arrangement, but keeping the property will be a hindrance if you're owning your home, which i'm sure is something she'd want for you. 

To be clear, i think you should sell up because it is obviously making you unhappy, but giving your mum a practical, financial  reason why this isn't working out, might help her come to terms with it.    

slayerofangels

Hi all,
Just as an update - today I spoke to a solicitor and he has talked me through what the forced sale process was and the likely costs of proceeding with this option. He also advised that I speak to a financial advisor, so that hopefully I will be able to build a strong case for selling that I can then present to my sister. 
My sister is still adamant that she does not want to sell, however I am hoping that will change once I get some sound financial advice!
My mother, on the other hand, is choosing to give me the silent treatment right now. After having some time to reflect the situation and do some soul searching, I have realised that this is something she often does to try and manipulate me. Clearly I made a grave mistake in letting my mother know anything about my financial matters and rather than argue with her, I need to learn to set boundaries with her and walk away when she tries to rile me. 
Thank you for all your helpful comments and advice though!