Deed of variation - right to occupy v life interest v need advice?

DisappointedSiblings

help please - we are trying to unravel a puzzle that seems to have been created by our mother's will. She owned our parents house after our father died many years ago. She remarried. Sadly she passed away a few months ago. It has left us reeling. We have little or no contact with her husband, he is very controlling. We have waited months to hear from the solicitor. Her will leaves half the house to her children and half to her husband. It states that her husband is allowed to occupy the house without rent, at the cost of her estate until the property is sold. The solicitor informs us that our mothers husband needs our permission to stay in the house and wishes to live there indefinitely?? We are being asked to agree to this. While we appreciate that this is his home and he is recently widowed, we are confused.

We intend to ask a few Qs, but wondered if anyone had any advice. Is this a deed of variation? Would there be CGT implications if there was a housing boom? Equally implications if there was a crash?? What if he remarries or moves someone in? And what are reasonable costs?

Can anybody advise or do we need professional help here? Thanks so much.

Flugelhorn

did they own the house as "tenants in common"?

Was there any timescale for putting the house on the market - can husband not just stay there indefinitely anyway with the estate (ie you) paying for it? 

Maybe deed of variation could be used to define who does pay for the property 

DisappointedSiblings

Flugelhorn said:

did they own the house as "tenants in common"?

Was there any timescale for putting the house on the market - can husband not just stay there indefinitely anyway with the estate (ie you) paying for it? 

Maybe deed of variation could be used to define who does pay for the property 

Thank you. Mother owned the house, it's in her name. No timescale mentioned in the will - just says until sold? What happens if he needs care?

Flugelhorn

sounds very tricky and you do need some legal advice, normally there would be a timescale in this or the right to stay until death.

If needs care would have to be sold and the funds from his inheritance would be used to pay for it

The problem is the maintenance of the property - and the costs of day to day running

DisappointedSiblings

Flugelhorn said:

sounds very tricky and you do need some legal advice, normally there would be a timescale in this or the right to stay until death.

If needs care would have to be sold and the funds from his inheritance would be used to pay for it

The problem is the maintenance of the property - and the costs of day to day running

Thank you!

Sea_Shell

Besides the house, what cash is in the estate from where the running costs are to come from?

Who inherits the residual estate?  Same people, same split?

Mojisola

DisappointedSiblings said:

She owned our parents house after our father died many years ago. She remarried. Sadly she passed away a few months ago. It has left us reeling. We have little or no contact with her husband, he is very controlling. We have waited months to hear from the solicitor.

Her will leaves half the house to her children and half to her husband.

It states that her husband is allowed to occupy the house without rent, at the cost of her estate until the property is sold. The solicitor informs us that our mothers husband needs our permission to stay in the house and wishes to live there indefinitely?? We are being asked to agree to this. While we appreciate that this is his home and he is recently widowed, we are confused.

We intend to ask a few Qs, but wondered if anyone had any advice. Is this a deed of variation? Would there be CGT implications if there was a housing boom? Equally implications if there was a crash?? What if he remarries or moves someone in? And what are reasonable costs?

DisappointedSiblings said:

No timescale mentioned in the will - just says until sold? What happens if he needs care?

It's unusual to have the estate pay for household upkeep - it means her estate won't be able to be finalised until after her husband moves out and the house is sold.

As he owns half of the house, if he needs residential care, the house will have to sold (or you and your siblings could buy him out) and his half will go towards his care.

If the solicitor thinks that your mother's husband needs your permission to continue to live there and the relationship is non-existent, why not compromise on allowing him to stay for a set period but then putting up the house for sale?

As he owns a share of the house, you will need his agreement to a sale and he could be awkward and not give it so it will be worth trying to keep things civilized.

DisappointedSiblings

Sea_Shell said:

Besides the house, what cash is in the estate from where the running costs are to come from?

Who inherits the residual estate?  Same people, same split?

Same split, he gets about £20K maybe less after fees etc.

DisappointedSiblings

Mojisola said:

DisappointedSiblings said:

She owned our parents house after our father died many years ago. She remarried. Sadly she passed away a few months ago. It has left us reeling. We have little or no contact with her husband, he is very controlling. We have waited months to hear from the solicitor.

Her will leaves half the house to her children and half to her husband.

It states that her husband is allowed to occupy the house without rent, at the cost of her estate until the property is sold. The solicitor informs us that our mothers husband needs our permission to stay in the house and wishes to live there indefinitely?? We are being asked to agree to this. While we appreciate that this is his home and he is recently widowed, we are confused.

We intend to ask a few Qs, but wondered if anyone had any advice. Is this a deed of variation? Would there be CGT implications if there was a housing boom? Equally implications if there was a crash?? What if he remarries or moves someone in? And what are reasonable costs?

DisappointedSiblings said:

No timescale mentioned in the will - just says until sold? What happens if he needs care?

It's unusual to have the estate pay for household upkeep - it means her estate won't be able to be finalised until after her husband moves out and the house is sold.

As he owns half of the house, if he needs residential care, the house will have to sold (or you and your siblings could buy him out) and his half will go towards his care.

If the solicitor thinks that your mother's husband needs your permission to continue to live there and the relationship is non-existent, why not compromise on allowing him to stay for a set period but then putting up the house for sale?

As he owns a share of the house, you will need his agreement to a sale and he could be awkward and not give it so it will be worth trying to keep things civilized.

Useful advice thank you.

xylophone

As he owns half of the house, 

But  at the moment he doesn't.

help please - we are trying to unravel a puzzle that seems to have been created by our mother's will. She owned our parents house after our father died many years ago. 

 Mother owned the house, it's in her name. No timescale mentioned in the will - just says until sold? 

It appears that all mother's will states with regard to the house is that he is to inherit half the property (or the value thereof presumably)  and may live in the house until it is sold.

Only the executors of mother's will have the right to deal with her assets.

Presumably they could decide to sell the property at any time and the husband would simply have to take his half share of the proceeds and move on?

DisappointedSiblings

xylophone said:

As he owns half of the house, 

But  at the moment he doesn't.

help please - we are trying to unravel a puzzle that seems to have been created by our mother's will. She owned our parents house after our father died many years ago. 

 Mother owned the house, it's in her name. No timescale mentioned in the will - just says until sold? 

It appears that all mother's will states with regard to the house is that he is to inherit half the property (or the value thereof presumably)  and may live in the house until it is sold.

Only the executors of mother's will have the right to deal with her assets.

Presumably they could decide to sell the property at any time and the husband would simply have to take his half share of the proceeds and move on?

Trouble is he is one of the executors and the solicitor seems to be treating him as their client. The siblings are NOT executors. It's a bit of a mine-field we fear.