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Well, I think I finally found out what the delays were about
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Didnt your own solicitor point out that it was likely youd owe rent to the other beneficary as the person who youd had the informal (ie undocumented?) agreement with was now deceased? Id start there.0
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I’m pretty bemused that you consider it wrong that the Co beneficiary of the property would have expected you to pay them rent for your sole use of their share of the house.I know of 3 instances whereby one of the beneficiaries of an estate paid a share of the market rent to the other beneficiaries whilst living in the property - it really is a thing!
Look at it from their point of view.For example, house value = £200K
inherited 50/50, so each share worth £100K
Market rent = £800 pcm x 2 years = 800 x 24 = £19200. Half of the rent = £9600
You have benefited to the tune of £9600 over 2 years by not paying any rent, whilst the other beneficiary has not benefited financially from either your share of the rent or the equity from the property. He is, in effect, £109600 down so far. Add possible interest on that amount, then that’s a substantial amount of money he is losing whilst this drags on.Your casual agreement with the deceased would have ceased upon their death unless their Will specifically stated that you could remain in the property. It didn’t. Whilst this situation remains, your inheritance is reducing month on month by the amount of unpaid rent thats accruing. I would expect that the other executor will pretty soon instigate court proceedings against you and you could also end up with a hefty legal bill. It’s time to move!2 -
Does the fact that you are expected to pay rent make the other party a landlord and should have all the relevant documents and insurances?1
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I agree with OP that it is unfair. OP had no chose of moving to a cheaper place. If OP had moved out, then the co-inheritor would have needed to pay their share of property insurance on an empty property. Also some utilities eg standing charge plus a bit of heating in Winter. A property is likely to sell for more in an occupied state, than empty and cold.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.1
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comeandgo said:Does the fact that you are expected to pay rent make the other party a landlord and should have all the relevant documents and insurances?I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.1
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