Possible aquired property -shared beneficial interest in inheritance property
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BROKEBUT4HOPE
Posts: 108 Forumite
Hi really need some help.
I am a case where me and my family members are suing another family member for taking our share of the family estate.
At the time i declared B in 2009 i was not sure if i would have a beneficial interest as my father had just died.
Now my solicitor is saying that my OR could have an interest and this makes my claim for the beneficial interest nullified unless I get the OR to assign their claim back to me.
I am being adviced either to request the OR to do it and pay their legal fees- at which point they may decide to do it or agree with me a certain amount.
My question is how is it that they still could have a vested interest even when the B was discharged in 2010.
Also what amounts of money could they be asking for- my B debts were well under 100k and some of it was paid back. The inherited property is to be divided by 5 plus solicitors fees.
My solicitor needs a decision on with i withrdraw my claim from the inheritance or i take the risk with with the OR.
Any experience here?
I am a case where me and my family members are suing another family member for taking our share of the family estate.
At the time i declared B in 2009 i was not sure if i would have a beneficial interest as my father had just died.
Now my solicitor is saying that my OR could have an interest and this makes my claim for the beneficial interest nullified unless I get the OR to assign their claim back to me.
I am being adviced either to request the OR to do it and pay their legal fees- at which point they may decide to do it or agree with me a certain amount.
My question is how is it that they still could have a vested interest even when the B was discharged in 2010.
Also what amounts of money could they be asking for- my B debts were well under 100k and some of it was paid back. The inherited property is to be divided by 5 plus solicitors fees.
My solicitor needs a decision on with i withrdraw my claim from the inheritance or i take the risk with with the OR.
Any experience here?
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Comments
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Did your father have a will, if so who did he leave his estate too? If not what was his marital status and how many children did he have?
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He didnt, hen was married and had 6 children - the eldest took control of it all and was meant to hold it in trust for us but no paperwork was drawn as such so we are fighting him0
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As it appears there was no Will, the Estate should be distributed as per the rules of intestacy.
It is unclear why the Estate would have been held in Trust given the OP had, presumably, attained the age of majority (by virtue of having debts and bankruptcy) at the time of the death.
The starting point for any civil legal action (suing the family member) would be to put the OP back into the position that the OP would have been had the OP not be wronged (assets from the Estate taken by the eldest sibling).
To make sense of that and the impact on the bankruptcy, it needs to be considered in the context of relative time-line and value of the inheritance relative to the bankruptcy.
If we assume the bankruptcy was after the OP should have received the inheritance, then the value of the inheritance will be of interest to the OR as the position at that time would have been that the OP had additional assets to be considered in relation to the inheritance.
It is quite some time since the Estate should have been settled (2009) - where are the funds now that were not correctly distributed? Does the eldest sibling still have the funds to distribute?0
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