Help - Monies given before death for an annex that wasn’t built

Emmia

It's all very confusing tbh

sheramber

This thread is about building a house and selling current one.

Other thread is about building an annexe.

QrizB

OP we're all very confused.

This £500k loan - has the money already been handed over, or is it pending sale of the house?

The loan for the annexe, is that in addition to this £500k loan? How much was it for?

Is there anything else relevant that you're yet to reveal? This isn't an Agatha Christie novel, it helps to have all the facts up front

Flugelhorn

could do with getting the threads merged and then some clarity to the story 

Cluffy01

Sorry if I’ve caused confusion. 

I thought that although everything involves my late father and brother that the issues were separate. 

To clarify my father has given my brother a lump sum to build an annex on a property that my brother will build in the future. 

My brother has purchased the house and will demolish and rebuild. 

My late father was hoping to move into an annex that my brother was going to add on to the side of the house when he built this new property. 

So my brother didn’t have to move out of his current house my father said he would sell his home and loan my brother £500k for him to build this new house. Then when he and his family move in along with my father they would sell the existing house and pay my father back the £500k. 

If my father had still been here then everything would have proceeded as he wanted however as he has sadly died I am questioning everything that has been agreed by my Dad. 

I will be seeking legal advice with everything. Again sorry for any confusion, I thought it was two separate issues. 

Cluffy01

Yes he was a widower. IHT is not an issue as we have my late mums nil rate band. 

House = £500k
Savings = £50k
Loan = £500k
Total = £1.05M

The house would be sold and then the money loaned. There is no extra £500k. 

So the estate would total £550k   

RAS

you mean that your parent loaned/gifted nearly 90% of their assets to the brother?

Cluffy01

QrizB said:

OP we're all very confused.

This £500k loan - has the money already been handed over, or is it pending sale of the house?

The loan for the annexe, is that in addition to this £500k loan? How much was it for?

Is there anything else relevant that you're yet to reveal? This isn't an Agatha Christie novel, it helps to have all the facts up front

The loan is pending the sale of the house. 

I’m so sorry for any confusion. 

The loan for the annex has already been handed over and yes it is addition to the £500k. It’s in the region of £100k. 

I thought the issues were separate so posted two posts and didn’t mention the other query! 

Cluffy01

Sorry if I’ve caused confusion. 

I thought that although everything involves my late father and brother that the issues were separate. 

To clarify my father has given my brother a lump sum to build an annex on a property that my brother will build in the future. 

My brother has purchased the house and will demolish and rebuild. 

My late father was hoping to move into an annex that my brother was going to add on to the side of the house when he built this new property. 

So my brother didn’t have to move out of his current house my father said he would sell his home and loan my brother £500k for him to build this new house. Then when he and his family move in along with my father they would sell the existing house and pay my father back the £500k. 

If my father had still been here then everything would have proceeded as he wanted however as he has sadly died I am questioning everything that has been agreed by my Dad. 

I will be seeking legal advice with everything. Again sorry for any confusion, I thought it was two separate issues. 

Marcon

Cluffy01 said:

Sorry if I’ve caused confusion. 

I thought that although everything involves my late father and brother that the issues were separate. 

To clarify my father has given my brother a lump sum to build an annex on a property that my brother will build in the future. 

My brother has purchased the house and will demolish and rebuild. 

My late father was hoping to move into an annex that my brother was going to add on to the side of the house when he built this new property. 

So my brother didn’t have to move out of his current house my father said he would sell his home and loan my brother £500k for him to build this new house. Then when he and his family move in along with my father they would sell the existing house and pay my father back the £500k. 

If my father had still been here then everything would have proceeded as he wanted however as he has sadly died I am questioning everything that has been agreed by my Dad. 

I will be seeking legal advice with everything. Again sorry for any confusion, I thought it was two separate issues. 

Same answer as I gave on your other thread: proper legal advice from someone who has all the facts is the only sensible way to proceed (and that's what you said you were going to do...). Absolutely no point people chipping in with queries and ideas when they don't have the facts (and in most cases don't have the relevant knowledge) and what nobody here has is insurance to give advice.