Executor of estate 20 May at 6:39PM in Deaths, Funerals & Probate 10 replies 556 views

Sezma72

Good Evening,

Please could someone advise me? My mum sadly died recently, she owned a house with my sister and the ownership was tenants in common and my sister doesn’t live in the property. I am appointed executor of mum’s estate I also have a brother who like me has no ownership of the house.

We have sold the house pending probate and when it has all gone through there is a mortgage to pay off. My questions are:

is tenant in common always 50% ownership unless stated I have asked the mortgage company to send me the details of this but they never did.

also if there is any equity in the house my assumption is my sister gets 50% of the money plus a third of the other half leaving my brother and myself with a third of the other half. 

My last question sorry bear with me since my mum died I have been paying the mortgage because my sister cannot afford it and I didn’t want the house to be repossessed. I am going to take all the mortgage payments out of her half as she is fully accountable as ownership has been passed over to her is this right?

I hope this makes sense.

Thank you 
Sarah

Grumpy_chap

Sezma72 said:

Good Evening,

Please could someone advise me? My mum sadly died recently, she owned a house with my sister and the ownership was tenants in common and my sister doesn’t live in the property. I am appointed executor of mum’s estate I also have a brother who like me has no ownership of the house.

We have sold the house pending probate and when it has all gone through there is a mortgage to pay off. My questions are:

is tenant in common always 50% ownership unless stated I have asked the mortgage company to send me the details of this but they never did.

also if there is any equity in the house my assumption is my sister gets 50% of the money plus a third of the other half leaving my brother and myself with a third of the other half. 

My last question sorry bear with me since my mum died I have been paying the mortgage because my sister cannot afford it and I didn’t want the house to be repossessed. I am going to take all the mortgage payments out of her half as she is fully accountable as ownership has been passed over to her is this right?

I hope this makes sense.

Thank you 
Sarah

Sorry for your loss.

Was the mortgage only in your Mother's name? 
So your Mother lived in the property and had a mortgage on her proportion, but the part owned by your sister was without any associated debt?
If so, the mortgage payments should have been paid by the Estate before the residual equity to be distributed is calculated.

Sezma72

Grumpy_chap said:

Sezma72 said:

Good Evening,

Please could someone advise me? My mum sadly died recently, she owned a house with my sister and the ownership was tenants in common and my sister doesn’t live in the property. I am appointed executor of mum’s estate I also have a brother who like me has no ownership of the house.

We have sold the house pending probate and when it has all gone through there is a mortgage to pay off. My questions are:

is tenant in common always 50% ownership unless stated I have asked the mortgage company to send me the details of this but they never did.

also if there is any equity in the house my assumption is my sister gets 50% of the money plus a third of the other half leaving my brother and myself with a third of the other half. 

My last question sorry bear with me since my mum died I have been paying the mortgage because my sister cannot afford it and I didn’t want the house to be repossessed. I am going to take all the mortgage payments out of her half as she is fully accountable as ownership has been passed over to her is this right?

I hope this makes sense.

Thank you 
Sarah

Sorry for your loss.

Was the mortgage only in your Mother's name? 
So your Mother lived in the property and had a mortgage on her proportion, but the part owned by your sister was without any associated debt?
If so, the mortgage payments should have been paid by the Estate before the residual equity to be distributed is calculated.

Thank you for your reply

I really don’t know, my heart sinks if I have to contact her mortgage company because I wait 1 hour to be connected and then whoever I have spoken too just say that they don’t know and they will send me the info which never arrives. I have given up now.

My sister and mum bought the house when my sister was 18 and my sister doesn’t understand anything about the mortgage. I sort of assume that she is  responsible for the payments because the mortgage company told her that she was. But then again they don’t care about where the money comes from do they?

how do I find out if her name is on the mortgage will have to speak to her useless bank? My sister has shut down about dealing with any of this she really can’t cope with it all, hence why I am the executor and not her. This is fine it is just frustrating not having any info on the mortgage. 

Sarah 

Thrugelmir

If you are using the services of a solicitor for the sale. Why not speak with them rather than tie yourself in knots. 

Sezma72

Thrugelmir said:

If you are using the services of a solicitor for the sale. Why not speak with them rather than tie yourself in knots. 

Thank you I will 

Keep_pedalling

Your sister should also understand that she is probably going to have to pay CGT from the sale of her share of the house as it is not her primary residence. 

SevenOfNine

If the mortgage is in your mother's name, the experience I have of that is the mortgage company froze the payments & the accruing interest, when the house was sold the balance of the mortgage was paid off (the solicitor dealing with the house sale paid it, the estate agent & his own fees, then released the balance remaining to me - the executor).

The mortgage was with Tesco Bank, who were extremely helpful, I assumed that procedure was common?  Are you speaking with the provider's bereavement department or just a call centre?

Sezma72

SevenOfNine said:

If the mortgage is in your mother's name, the experience I have of that is the mortgage company froze the payments & the accruing interest, when the house was sold the balance of the mortgage was paid off (the solicitor dealing with the house sale paid it, the estate agent & his own fees, then released the balance remaining to me - the executor).

The mortgage was with Tesco Bank, who were extremely helpful, I assumed that procedure was common?  Are you speaking with the provider's bereavement department or just a call centre?

I initially spoke to the bereavement department who had no clue how much my sister owned of the property and transferred me through to the bank who were equally useless. So I got nowhere. I think I am going to speak to my Conveyanacing solicitor 

Mojisola

Sezma72 said:

I initially spoke to the bereavement department who had no clue how much my sister owned of the property and transferred me through to the bank who were equally useless. So I got nowhere. I think I am going to speak to my Conveyanacing solicitor 

The assumption would 50/50. 
Work on that basis - if your sister challenges the percentage, ask her to provide evidence. 

Keep_pedalling

Mojisola said:

Sezma72 said:

I initially spoke to the bereavement department who had no clue how much my sister owned of the property and transferred me through to the bank who were equally useless. So I got nowhere. I think I am going to speak to my Conveyanacing solicitor 

The assumption would 50/50. 
Work on that basis - if your sister challenges the percentage, ask her to provide evidence. 

Unless there is a deed of trust in place then it has to be 50/50. Lenders will never record this sort of information and it won’t be recorded with the LR either. 

Norman_Castle

Sezma72 said:

My last question sorry bear with me since my mum died I have been paying the mortgage because my sister cannot afford it and I didn’t want the house to be repossessed. I am going to take all the mortgage payments out of her half as she is fully accountable as ownership has been passed over to her is this right?

Stop paying the mortgage, the property will no be repossessed while in probate. Once the property is sold take back any payments you have made from the total sale proceeds before sharing the assets. From the sale proceeds pay the mortgage debt, then repay to yourself whatever payments you have made, then the remainder goes to your mothers estate.

Mortgage payments you have made for this property are now a debt to you to be paid from the estate. As an executor your job is to gather the assets, then pay the debts, then share the remainder according to the will or law.

Until the assets are dispersed ownership of the property remains as it was before death. Whatever your mother owned is now owned by her estate which you are managing on her behalf.