Inheritence and house sale

Why is your DH so reluctant to get on with it? Is he sorry for his brother or in awe of his nomadic twattery?

Remind your spouse that now the house is 1/3 in their name, should you decide to divorce them you’d be entitled to half of their share! Also, their share will now be subject to capital gains tax once sold.

So that’s what should happen. Who’s the executor?

He could also consider part-ownership schemes (might still qualify if he has never owned a property before) or moving to a cheaper area.

If he isn't, that should actually be accounted for before the estate is distributed

Everything three ways!

There’s no guarantee though. The house needs a fair bit of work by the sounds of it, maybe more than expected to get a sale. It’s a complete unknown. Plus, giving 60k that’s in the bank now, means the Nomad is benefiting whereas the other two aren’t benefiting from the interest that money is currently accruing. Plus - quite simply - this is not following the terms of the will, which was the mother’s wishes.

No one is suggesting any if the things you have mentioned.
the sibling isn’t suggesting he gets more.

@Lanzaroteladymy post crossed with yours just there.

the key thing that jumps out of your post is that you have found flats for the 90k mark. There’s no guarantee he will be prepared to buy them. He might decide a bigger house rent free is preferable to a small flat and paying a mortgage!

The key thing is to knock this idea of upfront money on the head. The executors need to act on the will without delay. House goes on market. Nomad moves out. Apart from anything else, it will mean he’s getting used to paying rent before taking on a mortgage.

Reading your OP again @Lanzaroteladyyou mention the Nomad has no real credit history. At 58, in this situation, he’s going to really struggle to get a mortgage offer even with a deposit. Lenders are really tough now (rightly so.) If he does get an offer it may not be at the favourable rate he thinks he might get. 58 years old, Without good credit history, a record of permanent employment and without evidence that he’s even paid rent, he’s not a great bet. You don’t want to be in a situation where he gets money up front, realises it won’t be enough to buy a small home for himself and then tries to drag things out even more.

remind your dh of this! And have you checked if he’s an executor yet? If so, he needs to be straight on this. If not, he should push the executors to do their job.

60-odd k is a life changing amount for most people. I presume OP and her DH are aged 50+, she may want their share for children's education (or helping them get on the housing ladder), retirement, bucket list holidays etc. That's not grabby.

My thoughts exactly @ThePiglet

It must be very frustrating @Lanzarotelady I see that you can't obviously tell your DH what to do with his inheritance from his mother. There's all sorts of emotion swirling about & I'd guess, largely unacknowledged - concern for his brther mixed with irritation, grief over the loss of his mother ...

Can you appeal to your DH's paternal feelings? If he does anything more for his brother than his mother willed, he is depriving your DC. A lump sum of £70k doesn't come often to ordinary people - it could contribute towards a house deposit for your DC (£35k each if you have two? - it's a good sum to set them up). And so on.

My father has given away a fair fortune to various women - at one point, as he was about to hand over £100k to his latest floozy, one of my siblings sat him down & told him what that money would mean to his two grandchildren. He changed his mind when confronted with the consequences of his befuddled lovelorn brain.

I'd suspect he won't get a mortgage big enough to get a house in the area unless you're in a very cheap area and he has a decently paying job.

£60k deposit round here would mean you would still struggle to get a small house on one person's salary.

Looks to me that #1 is either very optimistic, or opportunistic - that is, he knows the above, and also knows his siblings won't see him homeless, so he'll take the £60k and then let them know he can't get a property, so "very sorry and all that" but he can't sell the house.

I’m suggesting that experience so far indicates this may not happen. Or not for a long time. But if the siblings are happy to take that risk, maybe there’s no problem.

There will not be £160k in the house after solicitors, estate agents etc.

I'd split the £60k at £18k each leaving £6k for costs incurred.

Sell house and split 3 ways.
If house doesn't sell you could end up in a pickle otherwise.

Ok, I see. Have to trust the husband. I have reservations about my MIL will but my husband called me grabby woman. Well, so

They do, but if the beneficiaries are the same people as the executors, and none of them seems bothered about making progress, who is going to make a complaint? Sibling 1 obviously has a motive to drag his feet, so realistically, the impetus needs to come from Sibling 2 or Sibling 3. Do they not want their share of the inheritance?

He can get a manageable mortgage once the estate is distributed in accordance with the will. There’s absolutely loads that can wrong if he’s given 60k beforehand. What if he cant get a mortgage offer? What if he decides that actually he’d like to hang on rent-free and mortgage-free for another year or two?

He needs to leave, find a room or somewhere to rent short term and then sort out a permanent home when the sale has gone through, the estate is wrapped up, all final costs are known and distributions made