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Inheriting shared ownership flat

My ex wife died recently and left her Housing 21 shared ownership flat to my two children. She only owned 35% of the property and my kids have been told that they must continue to pay the rent, service charge etc amounting to around £500 per month. These flats do not sell quickly and I am concerned that it will become a dead weight for them for years to come. I would presume that their liability for the rent is only enforceable if they sign to say that they are taking on the property? It seems to be a game of chance and bluff. A rough calculation on my part reveals that if they do not manage to sell the flat within four years, then any equity they may have inherited has been swallowed up and they are left with the responsibility of paying the rent ad infinitum.
Any advice thankfully received.

Replies

  • FlugelhornFlugelhorn Forumite
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    Eighth Anniversary 1,000 Posts Name Dropper
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    it is difficult but officially your ex-wife's estate owns the property and is liable for the rent and service charge until it is sold  - she will have agreed to this in all the paperwork when she bought it - usually buried in the small print

     Properties are not normally transferred to the beneficiaries if they are being sold. When all is completed and the bills are paid then your kids will have whatever is left. 
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