Siblings inheriting share of Mums house

3Snowy

As for the will that is what it said re dividing property. 

theoretica

3Snowy said:

 I’m sure my Mum would want...

Your mum could have written her will to give you a life interest in the property - so ability to live there for your life - and it go to the rest of the family after death.  For whatever reason she didn't, and it is what was written in her will that matters most now.  But by leaving half the property to you she might have put you in the better position, to afford somewhere smaller where you are not so worried about maintenance and bills.

elsien

You can’t guarantee that you will leave the house to your siblings children though because life sometimes throws a curveball.

You may need to go into care in later life and your share of the house would then be an asset and would need to pay for your care.
You might go bankrupt.
Your siblings may be need to claim means tested benefits, get a divorce, go bankrupt - in all of those cases their share of the house would count as an asset which couldn’t be ignored.

I sympathise, I really do. There is a similarish situation in my family at the moment which is becoming horribly messy. 

And maybe by talking to them you can reach agreement. But if they can’t afford to maintain their own house and the one you are living in, what do you expect them to do? 

3Snowy

Thank you for your understanding. Life has already thrown a very serious curveball which I won’t go into here which is also why my home is so important to me. If as another reply has stated that more than 4 people can’t own a Residence that adds another issue to consider. 

elsien

As far as I understand it, there’s legal ownership which is 4 people, but the beneficial ownership is different and would apply to all 5 of you.
You probably need some advice on the implications of that. 

There’s a paragraph in here which explains it a bit better.
https://www.netlawman.co.uk/ia/co-ownership-property

3Snowy

I have never heard of that. Surely the  Solicitor that drew up the will would have known?  Any ideas on the best way to locate a Solicitor in London  that I can see and show the will to get advice re this?  I’m assuming Solicitors are conducting face to face meetings now?

elsien

The situation in my family also involves 5 children who inherited and the solicitor who drew up that will didn’t mention it as an issue either. Presumably because it’s managed via the trust, as mentioned in the article. 

3Snowy

Thank you. You have been very helpful on what’s a very complicated subject. I hope you have sorted out your family issues. Do you have any suggestion as to what specialist Solicitor I should consult?

rachel230

Seems a big ask to expect them to forgo their inheritance for the foreseeable future - what if they have their own financial plans to consider - and yet expect them to pay their percentage for any repairs. Sounds like wanting your cake and eating it too..
As another poster said, theoretically they could ask you to pay them rent for the portion they own.

Marvel1

How are you planning on paying their share?