Inherited co-owned property with a mortgage

[Gretsched]

Hi All,

I have inherited an equal share of a property after the Death of my Wife. She co-owned the property with her two Sisters which is registered as "Tenants in common". The property also has a mortgage and is tennanted.
i have some concerns.

1. The co-owners thought that the property would revert back to them after my Wife's death. I am currently estranged through this and other reasons. I am lead to believe that I need their permission to be entered on to the land registry. Is this true and if so, why if each share is independently owned?

2. What happens if they dont agree and won't sign any documents?

3. There is a mortgage against the property. I have spoke with the company involved and they will not discuss any detail stating that its nothing to do with me. Furthermore, they verbally stated that I am not liable for the repayment of the mortgage or part of as this refers back to the other co-owners. Is this correct as I have my doubts?

4. The Mortgage is interest only. Is there any way that I can establish if a policy exists to repay the capital? It is approaching the half way point in its term. I dont want them coming to me in 5 years time and demanding money!

Any help you can give is appreciated.

Thx

[MissFM]

Re: Inherited co-owned property with a mortgage

Hi Gretsched

Welcome to Legal Beagles and I'm so sorry for your loss.

Hi All,

I have inherited an equal share of a property after the Death of my Wife. She co-owned the property with her two Sisters which is registered as "Tenants in common". The property also has a mortgage and is tennanted.
i have some concerns.

1. The co-owners thought that the property would revert back to them after my Wife's death. Why? I am currently estranged through this and other reasons. I am lead to believe that I need their permission to be entered on to the land registry. Is this true and if so, why if each share is independently owned?

2. What happens if they dont agree and won't sign any documents?

3. There is a mortgage against the property. I have spoke with the company involved and they will not discuss any detail stating that its nothing to do with me. Furthermore, they verbally stated that I am not liable for the repayment of the mortgage or part of as this refers back to the other co-owners. Is this correct as I have my doubts?

4. The Mortgage is interest only. Is there any way that I can establish if a policy exists to repay the capital? It is approaching the half way point in its term. I dont want them coming to me in 5 years time and demanding money!

Any help you can give is appreciated.

Thx

- is there a Will?
- who is the executor?
- who are the beneficiaries?
- do you have probate or letters of admin?

If there is no will, you are presumably her next of kin and automatically inherit her share.

I don't believe her sisters can lawfully impede this.

There are more knowledgeable beagles here who will be along to help. For my part, I don't understand why they say it's nothing to do with you if you are her heir.

It does look as if professional advice would be wise IMO.

[enquirer]

Re: Inherited co-owned property with a mortgage

I have inherited an equal share of a property after the Death of my Wife. She co-owned the property with her two Sisters which is registered as "Tenants in common". The property also has a mortgage and is tenanted.

This sort of ownership means that the property is held in common but in separate shares. 'Tenants in common' is misleading as it has nothing to do with 'tenants'. Is the property let out to others?

1. The co-owners thought that the property would revert back to them after my Wife's death.

No - they are thinking of Joint Tenancy. Tenancy in Common means that the wife's share will only pass to them if the Will specifies this and the spouse has no claim. Was there a Will? If not, then it passes by intestate succession - with the spouse usually being first in line. If there was, what did it say?

I am lead to believe that I need their permission to be entered on to the land registry. Is this true and if so, why if each share is independently owned?

No, but they can dispute it.

2. What happens if they dont agree and won't sign any documents?

Their co-operation may not be necessary, but it would certainly make life easier. You may need to ask your solicitor to write to them.

3. There is a mortgage against the property. I have spoken with the company involved and they will not discuss any detail stating that its nothing to do with me.

Are you an executor? If so, they have no choice other than to deal with you. As co-owner, they should disclose to you anything affecting the land. You can get a duplicate copy of the Land Certificate from the Land Registry.

Furthermore, they verbally stated that I am not liable for the repayment of the mortgage or part of as this refers back to the other co-owners.

Tenants in Common mortgage their own shares. They may do this individually or collectively. As this can be quite complicated, professional advice would be advisable.

4. The Mortgage is interest only. Is there any way that I can establish if a policy exists to repay the capital?

This would be a question to put in any letter from your solicitor.

[bentonmadisn]

Re: Inherited co-owned property with a mortgage

Hi All,

I have inherited an equal share of a property after the Death of my Wife. She co-owned the property with her two Sisters which is registered as "Tenants in common". The property also has a mortgage and is tennanted.
i have some concerns.

1. The co-owners thought that the property would revert back to them after my Wife's death. I am currently estranged through this and other reasons. I am lead to believe that I need their permission to be entered on to the land registry. Is this true and if so, why if each share is independently owned?

2. What happens if they dont agree and won't sign any documents?

3. There is a mortgage against the property. I have spoke with the company involved and they will not discuss any detail stating that its nothing to do with me. Furthermore, they verbally stated that I am not liable for the repayment of the mortgage or part of as this refers back to the other co-owners. Is this correct as I have my doubts?

4. The Mortgage is interest only. Is there any way that I can establish if a policy exists to repay the capital? It is approaching the half way point in its term. I dont want them coming to me in 5 years time and demanding money!

Any help you can give is appreciated.

Thx

I feel sorry for your loss regarding the property issue as you have depicted it would be better you talk with your wife's two sisters and try to explain them the clause which are present in "tenants in common", property would only revert back to them if and only if it is mentioned by your wife in the will. Further more they have no right to obstruct what are you trying to achieve and create hindrance, also consult an solicitor who would help you in this situation.