Uc and inherited house, own half other owner buying out.

MeteredOut

stuhse said:

Letting your brother live in a house rent free and without buying it because he cant afford to is fraught with pit falls.  How long until he will buy you out ?  Whats going to change that means he can afford to buy you out ?    What if he dies part way through ?  What  if you die part way through ? What if in three years he says he needs another 3 years ?

if the brother is already paying rent in the place he is moving out of, should he not pay 50% of the market rate to the OP when he moves into the new house? Could the assessor set it that way?

HillStreetBlues

MeteredOut said:

stuhse said:

Letting your brother live in a house rent free and without buying it because he cant afford to is fraught with pit falls.  How long until he will buy you out ?  Whats going to change that means he can afford to buy you out ?    What if he dies part way through ?  What  if you die part way through ? What if in three years he says he needs another 3 years ?

if the brother is already paying rent in the place he is moving out of, should he not pay 50% of the market rate to the OP when he moves into the new house? Could the assessor set it that way?

No, as an (joint) owner there is no liability to pay rent.

The OP could well be happy for the brother just to live there rent free as long as the benefits they are on remain.
The issue for the OP is really how long can bother remain in property without those benefits being withdrawn, and it's a something I doubt will get a 100% certain answer.

Leah30

Thank you to everyone who has commented. 
He is now living in the house and probate was completed end of January, however nothing has been signed in regards the house being transferred into either of our names. 
We have had our migration to uc notice for May.
Would transitional element cover this? 

Spoonie_Turtle

Leah30 said:

Thank you to everyone who has commented. 
He is now living in the house and probate was completed end of January, however nothing has been signed in regards the house being transferred into either of our names. 
We have had our migration to uc notice for May.
Would transitional element cover this? 

If you don't own it yet (sorry, not got the wherewithal to reread the whole thread) and you don't own it by the time you claim UC then no.

If you do own it at the time of claiming then yes, you'd be protected as capital over £16k would be disregarded for 12 months.