Advice on selling 'part-share' of property left in probate.

[Mooly]

My dad passed away 18 months ago and his estate has taken ages to progress - mainly due to his second wife who is contesting everything!

She was left 50% of his house, with the remaining 50% split between my sister, me and his wife (so me and my sister own a third) The wife has offered to buy our share - at a rate below market value we don't agree on.

We don't want to just give it away, so could we call her bluff and insist it's put onto the market? Also are we entitled to start charging her rent in the meantime for our third - and can we back-date this to when he died 18 months ago?

We just want this resolved asap, but want what is fair - so any help appreciated? Cheers

[didds]

IANAL but it strikes me that as she is expecting you to accept a non market rate for the house sale, she shouldn't be able to expect to only be charged a market rate rent IF you are able to do so.

Suggest 10K a month rent, backdated maybe, should stir her into action

[Adamski]

I'd suggest 3 valuations by different estate agents, which may have to pay for, and take an average of the 3 as the value, and put transfer through a solicitor.

[Gerry557]

Try reversing the argument and offer to buy her share at the same rate.

[didds]

Try reversing the argument and offer to buy her share at the same rate.

I like that

[AF62]

My dad passed away 18 months ago and his estate has taken ages to progress - mainly due to his second wife who is contesting everything!

She was left 50% of his house, with the remaining 50% split between my sister, me and his wife (so me and my sister own a third) The wife has offered to buy our share - at a rate below market value we don't agree on.

Surely you and your sister have 1/6th not 1/3, as well as “his wife”(?) - the first one or the second one who has 50%.

Anyway it seems like he had a pretty rubbish will drawn up that either didn’t explicitly say whether the second wife could remain in the home during her lifetime (and whether rent free) or if it didn’t that meant the property had to be sold to make the necessary settlements and his second wife was aware of that.

As for the below market rate - depends how much. Get lawyers involved and likely they will cost far more than any small market rate difference.

[Mooly]

Try reversing the argument and offer to buy her share at the same rate.

We had thought of that as an option - and could probably get the cash together too. I think that will be our next move and call her bluff?

[Mooly]

My dad passed away 18 months ago and his estate has taken ages to progress - mainly due to his second wife who is contesting everything!

She was left 50% of his house, with the remaining 50% split between my sister, me and his wife (so me and my sister own a third) The wife has offered to buy our share - at a rate below market value we don't agree on.

Surely you and your sister have 1/6th not 1/3, as well as “his wife”(?) - the first one or the second one who has 50%.

Anyway it seems like he had a pretty rubbish will drawn up that either didn’t explicitly say whether the second wife could remain in the home during her lifetime (and whether rent free) or if it didn’t that meant the property had to be sold to make the necessary settlements and his second wife was aware of that.

As for the below market rate - depends how much. Get lawyers involved and likely they will cost far more than any small market rate difference.

You're right - but i meant 1/3 between myself and my sister. And yes, his will is a bit suspect and was changed around the time his contracted dementia, but it's hard to prove that as it was signed by him.

[Mooly]

IANAL but it strikes me that as she is expecting you to accept a non market rate for the house sale, she shouldn't be able to expect to only be charged a market rate rent IF you are able to do so.

Suggest 10K a month rent, backdated maybe, should stir her into action

We are thinking the 'rent' route too - but didn't know how we'd go about it?

[Dod101]

My dad passed away 18 months ago and his estate has taken ages to progress - mainly due to his second wife who is contesting everything!

She was left 50% of his house, with the remaining 50% split between my sister, me and his wife (so me and my sister own a third) The wife has offered to buy our share - at a rate below market value we don't agree on.

Surely you and your sister have 1/6th not 1/3, as well as “his wife”(?) - the first one or the second one who has 50%.

Anyway it seems like he had a pretty rubbish will drawn up that either didn’t explicitly say whether the second wife could remain in the home during her lifetime (and whether rent free) or if it didn’t that meant the property had to be sold to make the necessary settlements and his second wife was aware of that.

As for the below market rate - depends how much. Get lawyers involved and likely they will cost far more than any small market rate difference.

Irrespective of the current situation, as AF62 has said, there is a lesson for us all there. When drawing up a Will, make sure that you are clear about what you want to happen. Dividing property ownership like that is a recipe for dispute without clear direction in the Will.

Dod

[monabri]

https://www.inheritancedisputes.co.uk/n ... iving.html

Short 1 page article mentions Occupation Rent and Order for Sale. ( free consultation which might outline possible steps/ cost).

The next article is pessimistic (from your point of view).

https://www.webuyanyhouse.co.uk/blog/ca ... ty-140094/

I'd look at the rent income side of things. After all, you own a share. She might counter with "you should pay your share of council tax, water rates, standing charges".

You are going to need professional ( ££) advice!

[Mooly]

Short 1 page article mentions Occupation Rent and Order for Sale. ( free consultation which might outline possible steps/ cost).

The next article is pessimistic (from your point of view).



I'd look at the rent income side of things. After all, you own a share. She might counter with "you should pay your share of council tax, water rates, standing charges".

You are going to need professional ( ££) advice!

Thanks for the links - much appreciated.

[pochisoldi]

I'd look at the rent income side of things. After all, you own a share. She might counter with "you should pay your share of council tax, water rates, standing charges".

Liability for Council tax, water and utilities would fall on the ex if she is living in the property, and IMHO could only be equitably split if the co-owners were also living under the same roof.

[hiriskpaul]

IMHO you should take legal advice asap. That will put the matter on a more business-like basis.

ps, I suspect this will end up with solicitors involved and the sooner you get moving on that the better.

pps, was a RICS survey not carried out for probate?

[GoSeigen]

You're right - but i meant 1/3 between myself and my sister. And yes, his will is a bit suspect and was changed around the time his contracted dementia, but it's hard to prove that as it was signed by him.

Sheesh, why do people do this? My dad changed his will three months before serious dementia symptoms and left everything to his ex-wife who'd divorced him a couple of years prior. Nothing for his children or grand children.

GS

[Clitheroekid]

Who are the executors?