How long am I allowed in my parent’s house, after their passing?

Deisel_Weisel

Both my parents passed away in the summer, less than 12 weeks apart. My father in May, my mother at the end of July. I cared for both for the last 4 years of their lives. I’ve always lived with my parents in this house, since moving here in the early 80’s.

The will, as far as I know, splits everything 50/50 with my brother. He’ll be eager to have the house sold so he can get his 50%. I would dearly love to hang on to the house. So realistically, having made no money for 4 years, the majority, if not the entirety of the 50%, will hopefully be funded by a mortgage.

I need to start up a new business and make it very profitable, very quickly. Something I’ve achieved in the past, but there’s no guarantees of course.

This I should have started already, but the grieving process these past 3 months, hasn’t allowed me to focus on the business, but I think I’m finally ready to start.

So, I’m wondering, given the past circumstances, if there isn’t by law, some stipulated time I’m allowed to continue living here? The more time I have, the more time to make the new business profitable, and the more time I have to convince a mortgage company.

shiraz99

You can live there as long as you want, the only way your brother can force you out by forcing a sale is by taking you to court. Is the house still under probate or has it been transferred into you and your brother's names?

TonyMMM

Who is the executor of your parents' wills ?

fatbelly

I agree with the above.

I know of two families where the carer sibling has had their lives made extremely difficult because they felt

(1) they had to leave even though they had nowhere to go
(2) they had to raise 50% of the value of the property to pay the other sibling off

You need do neither of the two.

theoretica

Is there anything much in the estate other than the house that could go to your brother to leave you with more than 50% of the house?

user1977

I doubt you've ever (in your adult life) had a legal right to live there, so the simple answer to your question is "until your brother does something about it".

silvercar

Quickest way to get a mortgage would be employment rather than opening a business. A fixed income as an employee plus a side income from your business will look better to a lender.

Marcon

Deisel_Weisel said:

Both my parents passed away in the summer, less than 12 weeks apart. My father in May, my mother at the end of July. I cared for both for the last 4 years of their lives. I’ve always lived with my parents in this house, since moving here in the early 80’s.

The will, as far as I know, splits everything 50/50 with my brother. He’ll be eager to have the house sold so he can get his 50%. I would dearly love to hang on to the house. So realistically, having made no money for 4 years, the majority, if not the entirety of the 50%, will hopefully be funded by a mortgage.

I need to start up a new business and make it very profitable, very quickly. Something I’ve achieved in the past, but there’s no guarantees of course.

This I should have started already, but the grieving process these past 3 months, hasn’t allowed me to focus on the business, but I think I’m finally ready to start.

So, I’m wondering, given the past circumstances, if there isn’t by law, some stipulated time I’m allowed to continue living here? The more time I have, the more time to make the new business profitable, and the more time I have to convince a mortgage company.

Condolences - you are obviously having to deal with a double bereavement and major changes in your lifestyle.

You normally need at least 3 years of accounts if you are self employed - and of course they need to show a profit level which would support the level of mortgage you are seeking.

Unless your brother is willing to wait for a protracted period, then you need to consider possible alternatives e.g. would your brother accept anything other than the sale of the property in the short term in exchange for some sort of financial inducement such as your paying 'more' than 50% of the property's value at a date in the future? Could you take in a couple of lodgers and your brother gets the income? Neither is a strong bargaining chip but there may not be many alternatives.

Who are the executors of the will? If it isn't you and your brother, you'd also need to convince them you had a viable plan which would enable them to discharge their responsibilities. That might include a deed of variation to change your brother's share of the estate.

fatbelly said:

I agree with the above.

I know of two families where the carer sibling has had their lives made extremely difficult because they felt

(1) they had to leave even though they had nowhere to go
(2) they had to raise 50% of the value of the property to pay the other sibling off

You need do neither of the two.

I think you'll find OP needs to do one or the other, although hopefully not immediately.

Keep_pedalling

I know this might be hard from an emotional point of view, but practically would it not be better for you to actually look at using your inheritance to find a place of your own in a smaller property that would be a lot cheaper to run? Would their be sufficient assets in the estate to allow you to do this without the need to get a mortgage, or at least only need a small one?

Assuming the estate is a 50/50 split then eventually you are going to need to resolve this so your sibling gets their share of the estate. You can certainly stay there until any sale goes through, but although he cannot force you out without a court order it would not be good to let it get to that stage as it would be expensive financially and wreck your relationship with your brother.

It does not look like you have even seen the will, do you actually know who the executors are?

Malthusian

We don't need to tell you how difficult it is to start a business and get it generating big bucks in next to no time. Do you really need the added pressure of your brother breathing down your neck, and potentially having either a court case (which you would lose) or a rushed house move distracting you from the business?
If you'd posted a thread here saying "My brother and I have inherited a house, he wants me to wait at least three years to sell while he starts a business and generates sufficient consistent profits to qualify for a mortgage, he hasn't had any business or money for the last four years, what should I do", most people would tell you that the business is pie in the sky and they need to either force a sale now, or write off their half-share of the property indefinitely. 
I would echo Marcon's suggestion of taking in lodgers to give your brother a return on his half-share. Or move out completely and rent out the whole property, splitting the income, and using your half to rent. That is the obvious solution that a) treats your brother fairly b) allows you to hold on to the option of buying out your brother's half at some indefinite point in the future.

Silvertabby

Do try to keep your brother sweet - he could, if he wished, charge you rent for his half of the house.