Messed up situation - Help needed

Joel_Goodsen

Thanks for all the help.

[Deleted User]

You'd remain owner of the 50%. You and the other owners would then need to come to an agreement as to whether you wanted to buy them out, or sell up and take your equity.

But there's little point in worrying about it now, as the situation may never occur. People tend not to change their wills that often.

Slithery

Joel_Goodsen said:

If that does happen, where do I stand legally with the house?

You either raise the money to buy the 50% share that you won't own or sell the property and split the money.

theartfullodger

You, me, your grandparents can leave all or any of our assets to whoever we like - Battersea Dogs Home, a Ukrainian charity, some new toy-boy/mistress (or both) etc etc etc.  Nothing anyone else can do about it. 

Sunsaru

The first thing to do before worrying abouut the house is to worry about the relationship with your grandparents. You guys need to sit down and sort that out first.

Joel_Goodsen

Sunsaru said:

The first thing to do before worrying abouut the house is to worry about the relationship with your grandparents. You guys need to sit down and sort that out first.

100% agree. That has been my main priority and always will be. I have tried for the last week to have a normal, sit down conversation and they won't do it. I am at a complete loss.

Nothing worse than Family making each others life hard. There are plenty people out there to try and do that, let alone those you are closest to.

Joel_Goodsen

Thanks for both replies. What a kick in the gut. I would say you are normally right regarding wills, but my Grandparents have done a complete turn.

Am I correct in thinking that I would legally have the option to buy the other 50% first before anyone else?

elsien

I don't know about legally, but there's not many other people who'd want to buy half a house so selling to you may well be the quickest and easiest way forwards for all concerned. 

Joel_Goodsen

elsien said:

I don't know about legally, but there's not many other people who'd want to buy half a house so selling to you may well be the quickest and easiest way forwards for all concerned. 

That was my other concern because the family member they may leave it to is very toxic. They would gladly make life hard for us. Hopefully someone knows a 100% answer on this one.

steve866

Do you have any siblings? Did your mum? Who might they give their share to instead?

Joel_Goodsen

steve866 said:

Do you have any siblings? Did your mum? Who might they give their share to instead?

Hi Steve. Yes, it is my cousin they could possibly leave it to. I also have a sister but it is my cousin they have recently been gravitating towards and throwing money at.

Another situation I didn't think of, what if she said she wanted to live there?