Advice needed please

Bobbysoxx29

My Mum passed away in July 2025 and as it is now almost sorted legally and financially, I would like some independent advice.

My sister and myself are joint executors and beneficiaries of my mum's Estate and I had a wonderful plan to keep the house and to renovate and to rent it out.

It was my childhood home and the location has a connection with the family going back to when they were first built (circa 1910). My Great grandparents were the first people to live in one of these houses and there had always been an ancestor living there up until my Mum died last year. My dad passed away in 2015.

Now we have settled everything, Probate has been granted and we are waiting for confirmation that the house is now registered at Land Registry in mine and my sister's names.

Now I am starting to realise that it will take more money to renovate it than we have available.

I work, I am married and we have our own place and looked after my money, whereas my sister has not. Her and her husband have squandered their way through his parents £200,000 estate and now live in rented accommodation and she is working full time at the age of 70 to make ends meet.

She has told me that we should put £10,000 in a joint account for renovations and split the other £20,000 between us. I have told her that the renovations would cost more than that and she wasn't best pleased with me.

As I am writing this,I am realising that although I am reminiscing magically about the house, I actually do not want to spend any time there as when my dad passed away, myself and my husband became Mum's carer's in a way. I took her for hospital/ doctors/ hearing aid appointments, any time she thought we were going out, she would expect to accompany us, we helped her to garden and took her shopping. For 12 years, we never really had any time to ourselves. Birthdays, Christmas, Easter, Mothering Sunday, Bank Holidays, she came to our house and eventually it pushed me over the edge and I went onto anti-depressents. All the while my sister enjoyed her life and only visited very occasionally.

Perhaps I have just written the answer to myself !!

RobfromCornwall

I don't know how much the house is worth, but if you suddenly had £300,000 (to pick a number from thin air) would you spend it on a property, do it up, then rent it out? Would you, in short, become a landlord with all of the associated costs and responsibilities that entails?

If the answer is no, then that would suggest that this kind of thing might not be the best idea.

A house is not memories. A house is a house.

gwynlas

Your sister is 70 so I assume that you are over 60 yourself so why would you want the hassle of being a landlord?

The good memories will live on but you could set yourself up for bad ones if tenants disrespct the place.

Perhaps your sisters been reckless in spending her money and ending up in rented accommodation but as they say there are no pockes n a shroud.

Sell the property, split the money and enjoy it whether on trips of a lifetime or donations to charity.

Smudgeismydog

As you noted, you’ve probably answered your own question. It doesn’t sound like you want to remain tied to the property, working through renovations with your sister.

Particularly after having spent so many years caring for your mum, my advise would be to sell the property, take your half of the proceeds and for you and your husband to have some very overdue, and deserved, time off together

Best wishes to you x

Hehaw2025

Unless you ever plan of moving to the house and living in it I would sell it and be happy that a new family is going to move in and enjoy the property.

Its always a bit sad leaving a family house because a lot of your best memories happened in there but becoming a landlord could honestly make you hate the place.

Jemma01

It does sound like the joint account is a good idea with someone who's financial views differs to yours.

I would sell the house asap, and put the money in my pension and live a happy life, you are not young seeing your sister's age. Get the money and book yourself a holiday and rekindle your relationship with your partner.

RAS

Hi, transferring the house into your name and your sister's isn't necessary and could have unfortunate implications. It is much better to sell from the estate of Mrs Mum.

It avoids possible personal CGT bills if nothing else. You would each have 60 days to pay your bill. It also means paying unnecessary legal bills. If your sister is in receipt of any means tested benefits owning a share of a house she doesn't occupy will end her claim.

Being a landlord requires strict adherence to a whole raft of legislation, and there are fines and penalties for failure to comply. There's a whole raft of legal licences and certificates that might not leave much change out of £10k. If you've not already got experience now is not the time to start.

You also need deep pockets if you get a tenant who fails to pay rent and wrecks the place., So the profit is no longer there these days

Unfortunately, your sister may now be reluctant to sell if she's smelt the opportunity to get income whilst you do the work and fund the updates. And you'll need both signatures to sell. She might also fancy being the tenant?

I'd suggest that you tell her further research means you learned that the recent removal of non fault eviction and the new £7k fines means the sums no longer stack up. Plus the fact that landlords have to meet standards that do not apply to owner occupied property.

Sell from the estate, split the money and enjoy.

Emmia

I'd also advocate selling as is. If your sister isn't able to manage money well then I wouldn't want to be financially linked to her via a joint account, or to be a joint landlord with the responsibilities this entails.

Sell the house, split the money

Flugelhorn

if you haven't yet changed the ownership then don't, just sell as execs -the house is going to be a moneypit

also can imagine sister will become "homeless" and have to move in… then you will have nothing

MarzipanCrumble

Beware joint accounts - money can be taken out by either one or the other.

Bobbysoxx29

Thanks for all your input. I think I had already been going down the 'sell it' route but I just needed a little independent advice to quell any fears.

just for the record I am 57 and the house has been valued at £275,000 for Probate.

I live 10 minutes drive away and my sister lives on Mars ( well you would think it was Mars the amount of times she has visited over the last 12 years), so you have also confirmed to me that I do not wish to be tangled as joint Landlords with my sister even though she now delights in telling people she is a home-owner.

I will talk to my sister ASAP and we can get things moving and hopefully myself and my husband will be able to enjoy life going forward.

Thank you