Inherited house with siblings-do I have to pay rent ?

lolaparker

Hi- my mother recently passed away. I am still living in the family home. The will leaves the house to myself and my 2 brothers in equal shares. We don’t want to sell- mum said I could live here until I die. I have been told I will need to pay my brothers a market rent for their share of the property-is this true? Would the inland revenue still tax them on the income they should be receiving even if they don’t receive any rent ? 

p00hsticks

lolaparker said:

We don’t want to sell- mum said I could live here until I die. 

Was that actually specified in the will, or simply a wish your mum expressed and your brothers have agreed to honour, as this would make a difference ? 

lolaparker

It was in mums will that I could live there. For my lifetime . Not seen the will because solicitor is executor so don’t know how it was worded…

MarzipanCrumble

I would suggest you contact a solicitor who could work for you.  However before you do that go to an advice charity i.e. Citizens Advice or Age UK.  Get their take on your circumstances because if your mother gave you in her will a right to live there rent free you need to establish that.  They may advise you how to go about that.

Pollycat

lolaparker said:

It was in mums will that I could live there. For my lifetime . Not seen the will because solicitor is executor so don’t know how it was worded…

What has the executor said to you and your brothers about the wording in the will?

lolaparker

Thank you everyone for your advise.I am going to get independent legal advice on how best to proceed. 

Marcon

lolaparker said:

Thank you everyone for your advise.I am going to get independent legal advice on how best to proceed. 

Before going to the expense of doing that, ask the executor - there's no reason they can't tell you exactly what the will says. That's a simple matter of fact - and you'll certainly need to know before you can take your own advice. Once probate has been granted you can download a copy for £1.50: https://www.gov.uk/search-will-probate

doodling

Hi,

You need to see what the will says.

If the will simply gives you a right to live in the house then you do not need to pay rent.

If the will gives you the right to stay in the house subject to you paying rent then you need to pay it.

Do not worry about tax until you have seen the will.  Whilst the solicitor doesn't have to give you a copy, it does no harm to ask for one.  The will will become public in due course, when probate has been obtained.

You should make sure you see a copy of the will before you pay any rent so that you can make sure it is actually due.

Mojisola

lolaparker said:

It was in mums will that I could live there. For my lifetime . Not seen the will because solicitor is executor so don’t know how it was worded…

It may be worded that the house is held in trust until you no longer want to live there or die and only then will your siblings inherit their shares.  The will may also set out who is responsible for maintenance and repairs.

Keep_pedalling

This sounds like a immediate post-death interest trust, which would make you the beneficial owner of the house and no rent would be due to your siblings.