Inheriting half of parents house & responsibilities

cheesecake28

My parents own their house outright. They've put in their Will for me and my brother to have half each of it.  
My brother is currently living in it with them. He doesn't work , I doubt he ever will (work shy) .
I'm not sure what benefits he's on either. 
He has said , when parents both die he wants to continue living there. With him owning 50% and me owning 50%.  He has said that he will pay bills and any maintanance that needs doing. 

As I would own 50% (but not live there) am I obliged to pay anything towards it? If my brother said one day that he can't afford to pay a bill or something, would I have to?
My brother doesn't have much money so I don't know how he thinks he could continue living there in the first place.

Plus , if he continues to live there, then there's nothing in it for me really? 
Could I sell my share?  Just wondering in case I need money for the future. 

p00hsticks

cheesecake28 said:

My parents own their house outright. They've put in their Will for me and my brother to have half each of it.  

First things first - you say 'their will' but they will each have one.

 Do you know how the house is owned ?

 If it is in both of their names as joint tenants, then on the first death it will automatically pass to the survivor, regardless of what is written in the will.
 If it is jointly as tenants in common, then they each have a half share to leave to whoever they want, but if the wills were drawn up by a solicitor it is usual for a will to give the surviving spouse a lifetime interest to continue living there either until either their remarriage, until they choose to move or death (all options possible depending on what they want).

 Legally, if after the second death the property is left to you and your brother, then your brother should either buy out your share or the house would be sold so that you can both get your inheritance. In practice if he is living there and refuses to move out that is easier said than done, especially if you are both named as executors.

elsien

This is probably something that your parents should consider in more detail in the will. Because leaving you with half of a house that you can’t realise as an asset if you need to is unfair. 

Depending on the wording of the will, it would make sense for the house to be sold and for you each to have half. 

Giving your brother X number of years is also not realistic. Have that in my family where a son was given two years to stay - they simply refused to shift and 10 years later the house still hasn’t been sold. 

If you are not living in the property but own half, and you get divorced or you need to claim means tested benefits or you want your share towards a bigger property of your own then without your brother’s cooperation, you are S Creek without a paddle. 

There may also be tax implications to consider.

theoretica

A house which is currently housing three people might not be the best choice for your brother to live and pay maintenance on by himself?  So your parents putting into their will a clear instruction that the house is sold might be a benefit.

On the other hand, if it does suit your family best for your brother to stay living in the same property, enshrining this as a life interest in their wills might benefit you when it comes to CGT.

Keep_pedalling

It’s difficult, but your parents could help by having a clause in their will that says the house has to be sold and the proceeds distributed between you. 

Being a joint owner leaves you no obligation to pay for any repairs that occur.

Savvy_Sue

It's also worth considering whether the value of half the house would enable him to buy outright something of a sensible size. But he needs to have the realities of the situation spelled out to him: you have to pay to maintain a property!