Questions about inheriting a house

cheesecake28 · 9 May at 4:31PM

In my parents Will , they have left half the house to me and half to my brother.I live elsewhere but my brother currently lives there with them . ( he has little money and no job) When the time comes he has said he wants to remain living in their house. ( don't know how he thinks he will afford that …)

Would I be responsible for paying any bills? (while not living there)

If he struggles one day to afford paying bills , or ends up in hospital Would i have to?

If i wanted to sell my share , how exactly do you do that ? Would i need his permission?

I'm tempted to say just leave all the house to him cos i really don't need the worry and hassle of any problems to do with it. Or i could just refuse inheriting it. Stuff the money.

Has anyone gone through this?

GDB2222 · 9 May at 4:35PM

Any reason why he needs a property big enough for several people?

Keep_pedalling · 9 May at 4:36PM

A lot depends on the exact wording of the will.

elsien · 9 May at 4:57PM

You couldn’t simply sell your share to anyone except your brother because no one is going to buy half a house with someone already in it. Are there any other assets where he could have the house and you could have the other assets instead? However, you do also need to be aware of the possibility that if they have to pay your car, there may not be any assets left.

It would be simpler if the will said that the property is to be sold and the proceeds from the total estate split rather than leaving you half the property each.

Even doing it that way isn’t trouble free though - auntie left a will saying two children could stay in the house for two years and then it was to be sold. 10 years later they are still there because the remaining siblings can’t afford the legal battle to shift them.

Mands · 9 May at 5:20PM

https://forums.moneysavingexpert.com/discussion/6667571/questions-about-inheriting-a-house

Here is your thread from October 2024 asking pretty much the same thing. Since you didn't return to the thread perhaps you lost track of it?

https://forums.moneysavingexpert.com/discussion/6560428/inheriting-half-of-parents-house-responsibilities#latest

Silvertabby · 9 May at 5:45PM

My late mum wouldn't make a Will because 'it was unlucky'. But her wishes were that the house was to be left to my sister and I, and that my sister would continue to live there for as long as she wanted. She also assumed that as I was married with my own home (albeit with a mortgage at the time), and had a much better paid job, I would be able to help my sister with bills etc. Because it was half my house.…

My mum predeceased my dad, who DID make a Will, leaving the house to my sister....because I had my own home, etc.

I knew at the time that I dodged a bullet. My dad, bless him, had never believed in paying someone to do a job that he could bodge himself, and the house (a 1920s semi) really needed taking back to bare brick. Had the house been left to us both, my sister would have set up incessant demands for money for both essential repairs and utility bills.

Then she went bankrupt 2 years later and lost the lot, the house being in such a bad state of repair it could only be sold at auction to a cash buyer.

OP - if you really don't need the money, then letting your brother have it all may give you the value of peace of mind. I suppose it all depends on the equity in the house - my parents lived in a relatively cheap area in the North West, so I didn't give up a fortune. (But saved a fortune by not being subject to constant demands for money for 'our' house). But if yours live/lived in London then you may wish to take a different stance.

Forget any idea selling your half of the house while your brother still lives in his half - it's just not possible. You would both have to agree to sell, with your brother perhaps having the option buying something smaller with his share of the proceeds?

p00hsticks · 9 May at 6:11PM

If you decide after the death that inheriting your share is more trouble than it's worth, you can always do a deed of variation to disinherit yourself - although you do need to be aware that there will be consequences if you are on any means tested benefits.

What happens to the remaining parent when the first dies ? Where are they going to live ? Or are the wills giving the remaining spouse theright to remain in the house until their death ?