Inherited property

Sundaymorning6

Hi all,

I have jointly inherited my late mother’s house with my sibling. I am personal representative, probate granted some time ago, and there was no will. The property is still in my mother’s name, which should be changed into both our names as joint beneficiaries. I don’t know much about how tenants-in-common works, but for us to have joint legal responsibility doesn’t sound ideal to me. I am yet to buy my own home so I would lose first time buyer status and my sibling lives in the property so I don’t know if I would see any benefit with T-I-C. (Happy to be corrected on this) So other than joint ownership, that the options are for one of us to buy out the other.

I would like to buy out my sibling’s half if this is the only choice, as buying out my share has not been successful/come to fruition. However, they will likely continue to stay in the property until children can longer share. I’m wondering how, if at all, to navigate this.

I am assuming a conveyancer wouldn’t transfer the property into my name only until I have a mortgage to give sibling their share and the funds. I have no issue applying for a mortgage, but I don’t know how this would work if they are remaining in the property and I would need to pay the mortgage back.

Mojisola

Why not sell the house and slit the money?

Sundaymorning6

Mojisola said:

Why not sell the house and slit the money?

Unfortunately, I can't get my sibling to agree to selling the property. 

Savvy_Sue

Am I right in thinking that what you're proposing is living with your sibling, but expecting your sibling to move out when your children need separate rooms?

If they can't do so now, what's magically going to change in the next few years?

I'd take some advice, but it would be far better to sell and each move on independently. If your sibling won't, a court ordered sale might be a possibility. 

Keep_pedalling

You really need to give him an ultimatum, either he agrees to buy you out or sell the place. If he refuses then tell him you will force a sale through the courts and that will be expensive for both of you. 

kazwookie

Get a court order to sell

Mojisola

Depending on the exact wording of the will, couldn't you, as the executor, sell the property. 
As the house isn't in your joint names, do you need your sibling's agreement?

Robin9

There was no will

Sundaymorning6

Savvy_Sue said:

Am I right in thinking that what you're proposing is living with your sibling, but expecting your sibling to move out when your children need separate rooms?

If they can't do so now, what's magically going to change in the next few years?

I'd take some advice, but it would be far better to sell and each move on independently. If your sibling won't, a court ordered sale might be a possibility. 

No not me living there. Sibling wants to continue living there. At some point their children will need another room (trying not to be outing here) as are opposite sexes. So I don’t see how they could stay. 

Sundaymorning6

I don’t mind to buy it because honestly forcing to sell would be an absolute nightmare - I can’t tell you how I it was so simple. But is it feasible if I buy it and  they stay living there. 

Thrugelmir

Robin9 said:

There was no will

Then the rules of intestacy apply.