Inherited Property

thegreenone

Mintyrose said:

 I know I’m looking so far ahead but I need to feel preferred, he’s already text me to say ‘our next interaction will be interesting and I should get prepping’ 

That's bordering evil.  Keep it, just in case.  Keep everything you receive from him. Just in case.

Mintyrose

thegreenone said:

Mintyrose said:

 I know I’m looking so far ahead but I need to feel preferred, he’s already text me to say ‘our next interaction will be interesting and I should get prepping’ 

That's bordering evil.  Keep it, just in case.  Keep everything you receive from him. Just in case.

😬 awful isn’t it, I wished I’d saved years and years of texts and emails, but I never thought it would come to needing back-up, 🤷‍♀️ and my dad won’t hear a bad word about him, even though he knows what he’s like 🙄 and what he’s capable of 

Twixty3

Yes. I believe you will lose first time buyer status and capital gains tax will likely come in to play when the property is sold as you have not resided there but it will only be on your half of the increased value since the death. ( I will be corrected if I am wrong)

Keep a record of the things he says/texts  just in case.

Mintyrose

Twixty3 said:

Yes. I believe you will lose first time buyer status and capital gains tax will likely come in to play when the property is sold as you have not resided there but it will only be on your half of the increased value since the death. ( I will be corrected if I am wrong)

Keep a record of the things he says/texts  just in case.

Thanks Twixty3, everything is being kept from now on 👍

kipsterno1

Has anything changed since this,

https://forums.moneysavingexpert.com/discussion/6435590/50-50-with-clause-will-advise

Mintyrose

kipsterno1 said:

Has anything changed since this,

https://forums.moneysavingexpert.com/discussion/6435590/50-50-with-clause-will-advise

Yes!! Brother has found out he has 2 Filipino daughters, and could also move them in? Both In mid 20’s,, this is the person I’m dealing with, whilst being engaged and preparing to marry his ex-wife, he was having a 6 year affair 🤷‍♀️ which had 2 possibly 3 children born in it, that  he didn’t know of 🙄 so he is going to fight for every penny ,,, every other detail in my original post is still the same, but getting more urgent?! 

madbadrob

With all respect intended until we can see the will we cant really offer anything but general advice.  For example your dad as given him 2 years to decide what he wants to do.  Is this 2 years rent free?  If not then you have a claim for half the local rental value per month.   When your dad dies and the house is transferred I would have it registered as tenants in common then should something happen to you in those 2 years your family dont lose the share of the house.  It would also mean that you could even within that 2 year period force a sale.  In fact if youre on any form of means tested benefit you would likely lose them so would need the house sold.  This may be worth talking to dad about now and of course make sure brother is there to stop any claim of undue pressure.  (may be worth having a neutral witness also).

I personally would speak to dad and rather than say negative things about brother spin it n such a way that your father thinks its more about what ifs and not that your brother is a pain in the proverbial.  Its interesting that he as appointed a solicitor as a co executor because it means nothing can go ahead without all three being in agreement and the solicitor will only agree if its within the confines of law and the will.    The negative is they wikll charge a fortune that could make the 2 years given an impossible task also.

Rob

Mintyrose

madbadrob said:

With all respect intended until we can see the will we cant really offer anything but general advice.  For example your dad as given him 2 years to decide what he wants to do.  Is this 2 years rent free?  If not then you have a claim for half the local rental value per month.   When your dad dies and the house is transferred I would have it registered as tenants in common then should something happen to you in those 2 years your family dont lose the share of the house.  It would also mean that you could even within that 2 year period force a sale.  In fact if youre on any form of means tested benefit you would likely lose them so would need the house sold.  This may be worth talking to dad about now and of course make sure brother is there to stop any claim of undue pressure.  (may be worth having a neutral witness also).

I personally would speak to dad and rather than say negative things about brother spin it n such a way that your father thinks its more about what ifs and not that your brother is a pain in the proverbial.  Its interesting that he as appointed a solicitor as a co executor because it means nothing can go ahead without all three being in agreement and the solicitor will only agree if its within the confines of law and the will.    The negative is they wikll charge a fortune that could make the 2 years given an impossible task also.

Rob

Thanks for the advise! It had worried me as to what would happen if I passed in the 2 years, so that’s really useful information for me honestly! 

Luckily we aren’t on any type of benefit, at the moment, so that’s good, and yes I think it’s 2 years rent free, as no mortgage and he doesn’t pay rent now

RAS

You have got your own will sorted out? With robust executors?

Respecting the issue of creating a tenancy in common, it is usual for the house to be sold from the estate, so at no point would the solicitor create a joint tenancy between you and your brother.

You need to speak to a lawyer other than the executor if they suggest putting the property into the names of your brother and yourself. I'd suggest you need to avoid as it gives brother much more leverage but do take advice at the relevant time.

Newly_retired

It concerns me that the will doesn't say the house should be sold within two years. When the time is up, your brother could be making  noises about staying put or just not co-operate with the sale and then you will be waiitng a long time for your inheritance.