Troubled Estate

[Ted62]

After my Mother passed away my younger brother moved into the family home to help with my 92yr old father, for around 3 yrs my brother had been there until recently my father had passed away. The Will gave both me and my brother 50% of the house.

Now my brother has decided to stay at the house even though he has his own flat, he is single I have a family. Because the family house has been left to boyth of us I have no issue if he want to stay on, however I am a bit worried about his intentions, I feel maybe this is a move to get him the legal right to live there and for him to offer me a sum as my share of the estate.

I want to keep the property as the family house where I have many memories of my parents.

Please any advise would be welcome.

Thanks

[Pezza54]

Hi Ted
Sorry to read about your father's recent passing and the concerns you have about the family house.

Who is or are the named executor(s) in the will?

If the will states the property should be sold you need a Deed of Variation to the will which involves agreement with your brother to prevent the sale.

You could then both own a 50% share of the property as tenants in common and arrange for a solicitor to draft a formal tenancy agreement that provides your brother pays you 50% of the market rental value each month.

Your brother may not be happy with this arrangement as he already owns a flat. If you agree to sell your share unconditionally to your brother there is nothing to stop him selling the house in the future.

[atticus]

If you can both live there, fine. If not, do you consider that there is any option other than sale, possibly with one of you buying the other's share?

[Ted62]

Hi, thank you for your replies.

We are both named as the excutors, and I am ok with him staying on at the property, he has already put the bills in his name and the counil tax, I wont be asking him for rent either as I consider it the family home and all should be able to use it, I am just a bit worrid that longterm he may gain a legal right to buy my 50%.

[Pezza54]

If you agree to him living there it is not adverse possession so he will not gain squatters rights

[Ted62]

We met up a few days ago to discuss matter, I told him that I wanted to keep the status quo, he is doing all the Inheritance tax applications as we want to by pass using a solicitor, Its a nice house in a good location, I would be happy to move in myself though Im glad that he is there for the fact that it is being used. I hope oneday to pass it onto my young children as he has none and most likely wont, l would really like to keep it in the family.

Thanks for your advice.