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Hello, trying to find resolution for a friend.
A friend of mine has an issue with one of his siblings over an inherited house, who refuses to sell at market price... she wants unrealistically more.
My friend and his two sisters inherited their mother’s house that is in very poor condition and there is outstanding mortgage arrears. Their mother had dementia in her latter years, then died last year. They are equal beneficiaries.
There is outstanding mortgage arrears of £35 000, of which the building society is very close to forcing their hand and legal proceedings starting by them to recover it.
Sibling A refuses to sell below £150 000, which is total pie in the sky. The house has had a dozen viewings and the best offer is £115 000. Siblings K and C agree on this, but A doesn’t, as mentioned.
There is now a very serious time pressure to get it solved to relieve the estate debt and sort out their individual personal financial circumstances.
It appears that A’s plan is to let it all lapse and go into default, leading to a repossession order. At this point she seems to want to conspire to offer £40 000 to the building society to settle the debt and keep the house for herself, leaving K and C with nothing.
She is the executor or ‘main face’ regarding dealings on the financial side of their mother’s estate and her name is the one the legal entities etc communicate with... she has kept K and C out of the loop on these matters until the very minute, when she had to. This has lead to to much frustration and confusion for K and C, leading to the lenders thinking they are just ignoring the issue.
They have no spare financial resources to buy her out or seek legal assistance. A has the spare cash to run rings around them and basically steal the house off them. Without elaborating, she is an extremely spiteful and selfish individual. Compromise and commonsense negotiation is not in her dictionary.
What steps can they take to preventing her executing this sordid scheme?
Ant
A friend of mine has an issue with one of his siblings over an inherited house, who refuses to sell at market price... she wants unrealistically more.
My friend and his two sisters inherited their mother’s house that is in very poor condition and there is outstanding mortgage arrears. Their mother had dementia in her latter years, then died last year. They are equal beneficiaries.
There is outstanding mortgage arrears of £35 000, of which the building society is very close to forcing their hand and legal proceedings starting by them to recover it.
Sibling A refuses to sell below £150 000, which is total pie in the sky. The house has had a dozen viewings and the best offer is £115 000. Siblings K and C agree on this, but A doesn’t, as mentioned.
There is now a very serious time pressure to get it solved to relieve the estate debt and sort out their individual personal financial circumstances.
It appears that A’s plan is to let it all lapse and go into default, leading to a repossession order. At this point she seems to want to conspire to offer £40 000 to the building society to settle the debt and keep the house for herself, leaving K and C with nothing.
She is the executor or ‘main face’ regarding dealings on the financial side of their mother’s estate and her name is the one the legal entities etc communicate with... she has kept K and C out of the loop on these matters until the very minute, when she had to. This has lead to to much frustration and confusion for K and C, leading to the lenders thinking they are just ignoring the issue.
They have no spare financial resources to buy her out or seek legal assistance. A has the spare cash to run rings around them and basically steal the house off them. Without elaborating, she is an extremely spiteful and selfish individual. Compromise and commonsense negotiation is not in her dictionary.
What steps can they take to preventing her executing this sordid scheme?
Ant
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