Complicated Inheritance/property

tls123

To be honest I’m not sure why she’s paying the mortgage if the house was solely her partner I thought the mortgage would not carry on when the sole party to it has deceased, yes the debt might carry on. If she has paid monies for the house then she has now a financial claim on it. If your the executor wasn’t it your legal obligation to check with mortgage company on his death. You sound naive to believe that you can just sell it without thought ho his 2nd family. 

Flugelhorn

Suspect if the mortgage was in one name and you are the exec then you have to discuss with the mortgage company.  Not a good one to be the exec of. 

Gwezz

Mortgage company was informed of his death  and I would assume they moved in at the same time. title deed is in his name only. Don't seem to have much choice and will just have to leave things till they repossess 

mattojgb

Did you cash in the endowment policy?

Savvy_Sue

Savvy_Sue said:

And, of course, there is the reason why these mortgages are no longer so common: is the endowment on track to cover the outstanding debt? If it is, and it's kept up to date, then the house will not be repossessed because the mortgage will be satisfied. 

I am not sure you have answered this. 

If I've understood you correctly, the ex-wife has been paying the mortgage payments. If it's not 'on track' to be repaid, what's the shortfall? 

The house may need to be sold - you do need some 'proper' advice on that - but it seems to me that you'd ALL benefit from the house not being repossessed. 

msb1234

Are you sure there was no financial settlement? I thought a divorce could only be finalised after a financial settlement was agree? I’m afraid if I were the first wife I’d be speaking to my lawyer pretty sharpish. the fact that the house was in his name solely means nothing in the case of divorce. It’s a bit crass to talk about selling the house that his children still live in. 

sheramber

If the ex wife was paying interest only what was your husband!s intention when the mortgage term was finished?

 how was the outstanding amount going to be paid?

Spendless

It's a long story but initially I wasn't on the deeds or mortgage on the house me and husband live in (was to do with me owning a property which at the time was in negative equity) I had to sign something to say I couldn't 'just' live there now I  *think this was if husband moved out/stopped paying/died. I'd have thought ex would have had to sign something similar if she wasn't on the mortgage or deeds.

Marcon

Gwezz said:

I have been granted probate of my late husband estate, our children are listed as beneficiaries. Problem is the only asset is his previous home which is ex-wife and children are currently living in. The home is mortgaged which finishes in 15 month and it an endowment mortgage. Problem is I'm not on talking terms with the ex-wife and I'm afraid the bank with reprocess the property in 15months time when the mortgage is due as she is unable to get another mortgage on the property. Am I able to sell it with the family being present?

I think you need proper legal advice - and soon. Absolutely no point posting here; however keen people are to help, in the absence of all relevant information, it's just googling and guesswork, I'm afraid. The situation might not be as dire as you fear, so do get on and seek help sooner rather than later.

As the executor you need to do things correctly, and as the title of your thread rightly says, this is complicated - but it's your children's future at stake, so doing nothing isn't an option, however difficult and sad things are for you now.