Parent and Uncle not wanting to transfer land registry

mattdragon2

I was trying to convince them to sell it but I thought I needed the house to be on the land registry to do this, do I or can it just be sold?

I understand how bad this will get but I have no legal right to do anything.

Yea they are boomers both in their mid 70s so they really don't care what happens with the house as far as they are concerned, hence why they are leaving it for all us kids to sort out. It's all a headache for them cause they don't need to sell the house, they don't need the money, basically they just don't care what happens with the house.

I like the idea that on the will, it can force a sale, but if my mum puts that in her will and my uncle doesn't agree, what happens then?

All 6 kids will get a share. me and my sister get 50% split between us when my mum passes and the other 4 kids get 50% when their uncle pass split between them.

pjs493

mattdragon2 said:

I was trying to convince them to sell it but I thought I needed the house to be on the land registry to do this, do I or can it just be sold?

I understand how bad this will get but I have no legal right to do anything.

Yea they are boomers both in their mid 70s so they really don't care what happens with the house as far as they are concerned, hence why they are leaving it for all us kids to sort out. It's all a headache for them cause they don't need to sell the house, they don't need the money, basically they just don't care what happens with the house.

I like the idea that on the will, it can force a sale, but if my mum puts that in her will and my uncle doesn't agree, what happens then?

All 6 kids will get a share. me and my sister get 50% split between us when my mum passes and the other 4 kids get 50% when their uncle pass split between them.

The executors can sell it while it is still registered under the name of the deceased relative. In their role as executor(s) of the estate they oversee the sale. The cost of selling the house will be deducted from the proceeds and the remaining proceeds divided between the beneficiaries. 

If mum and uncle really don’t want anything to do with it now, and don’t need the money, why not just sell it and divide the money as they see fit amongst the cousins? 

Or would the cousin who is living in it rent free object to this? They may prove problematic at the point where the house needs to be sold because a beneficiary wants their portion in liquid assets rather than a sixth share of a house they can’t use. 

Down the road when the house comes to the cousins, it could prove very expensive to untangle everything, it’ll undoubtedly result in solicitors getting involved, could cause a family rift, and the result could be that once it’s sold up and proceeds distributed, that the cousins don’t end up with much at all. 

mybestattempt

I agree that the mother and uncle should sort the house situation as soon as possible and I would favour selling it and sharing the proceeds.

Just to add, I'm a boomer who is very conscious about not creating or leaving problems for the next generation when I pass.

msb1234

Another thing that needs to be considered is the issue of capital gains tax. If your mum and uncle don't sell, and the house increases in value, there could be CGT to pay when the house is eventually sold. In addition, if either of them needs residential care in the future, their share of the value of the house will be taken into consideration, so it will likely have to be sold at that point. At the very least, the local authority would assume the cousin is paying market rent and add that into their calculations.
By far the easiest thing to do is to sell the house now. If your mum doesn’t need the money, she could gift you and your siblings some of it.