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Original poster

Inheritence and house sale

214 replies

Lanzarotelady · 06/04/2025 12:28

Interested in others opinions here - what's fair?

Mum dies leaves house worth 160,000 and £60,000 in bank

3 adult children

1 living at home - never had a mortgage - has had a nomadic life style
2 living in a house, paid for - single
3 living in a house -paid for- married with children

1 know he needs to get a mortgage, but with no deposit and no real credit history is struggling to get one

He has proposed to use the £60,000 in the bank as a deposit, smaller mortgage etc, then when the house is sold, the other 2 get their share of the house, their share of the money in the bank, ie £80,000 each and he gets what is left.

I don't know if this is fair, open to abuse, favouring one above the other

What do you all think

OP posts:
AnnieMaud · 06/04/2025 13:36

Happyspendingthedayinthegarden · 06/04/2025 13:30

It can take 2 years for probate - it took longer for my mother's estate when she died in September 2020.

I agree with PP the money in the bank should be split 3 ways. You can't be sure that the house will sell for as much as you think - especially if it's in poor condition. You also have to factor in estate agent & solicitor fees for selling.

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Agree 100%

AnnieMaud · 06/04/2025 13:36

Lanzarotelady · 06/04/2025 13:29

Is he balls!

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I had a similar situation. Buyers’ solicitors will want to see a tenancy agreement with 4 weeks’ notice. No one will buy a property with a beneficiary living there rent-free.

Original poster
Lanzarotelady · 06/04/2025 13:33

If house sells for less than what it is valued at then it will be split between the 2 siblings

OP posts:
Original poster
Lanzarotelady · 06/04/2025 13:32

luckylavender · 06/04/2025 13:31

What on earth have you been doing all this time?

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Probate took 18 months

OP posts:
luckylavender · 06/04/2025 13:31

Lanzarotelady · 06/04/2025 13:02

Mum died over 2 years ago, probate all settled, just the three of them to make any decisions

What on earth have you been doing all this time?

Happyspendingthedayinthegarden · 06/04/2025 13:30

Miaowzabella · 06/04/2025 13:27

Who is the executor and what has he/she been doing for the past two years?

It can take 2 years for probate - it took longer for my mother's estate when she died in September 2020.

I agree with PP the money in the bank should be split 3 ways. You can't be sure that the house will sell for as much as you think - especially if it's in poor condition. You also have to factor in estate agent & solicitor fees for selling.

luckylavender · 06/04/2025 13:29

Surely some of the cash in the bank will be needed for bills, solicitor, utilities, house clearance etc etc

doodahdayy · 06/04/2025 13:29

If there is a will and everything is to be split equally bro can keep his hands off every one else’s cash.

Original poster
Lanzarotelady · 06/04/2025 13:29

Silvertulips · 06/04/2025 13:28

Is he paying the 2 siblings rent then?

Is he balls!

OP posts:
Silvertulips · 06/04/2025 13:28

Is he paying the 2 siblings rent then?

coldcallerbaiter · 06/04/2025 13:28

Nomadic lifestyle of sibling isn’t your problem. Split 3 ways. Don’t touch the giving him all the 60k or it will cause issues, always does.

Miaowzabella · 06/04/2025 13:27

Who is the executor and what has he/she been doing for the past two years?

NoTouch · 06/04/2025 13:24

Sell the house and split everything 3 ways.

He can live in the house until sold, then rent until he can use his share of her estate as a deposit.

The executor needs to get their finger out and wind up your mums estate as per your mums wishes documented in her will.

ThinWomansBrain · 06/04/2025 13:21

Lanzarotelady · 06/04/2025 12:54

Nomad is 58 and part of the reason him not wanting a large mortgage is that he knows he probably only has 10 years left that he could work

£160k for a large house is not a lot, ir us that the net sum after paying off a mortgage? - what will a 1 bed flat cost?
Bear in mind 55+ developments can be cheaper than open market properties.

A third of the total estate is worth more than £60k now, £73k, but you need to allow for any debts and funeral costs.
Is there some other reason for him needing cash urgently?

blubberyboo · 06/04/2025 13:21

Lanzarotelady · 06/04/2025 12:54

Nomad is 58 and part of the reason him not wanting a large mortgage is that he knows he probably only has 10 years left that he could work

He can take out a large flexible mortgage that will allow him to pay a large chunk off once mum's house is sold. He knows this but is taking the piss.

Siblings 2&3 need to both understand that to give him the £60k is akin to them each lending him £20k. Nobody should do that without a formal loan agreement that can be enforced upon his assets. Though a 58 year old nomad brother might not be likely to actually purchase a house with the cash so again..needs to be transferred to solicitors under strict instructions that they are to only release funds towards a property and that a charge is held against his property.

Cognacsoft · 06/04/2025 13:21

If Nomad has £60 k before house sells and then refuses to move out you could have months of trouble.
Split the cash 3 ways now and the house money when it’s sold.

Original poster
Lanzarotelady · 06/04/2025 13:20

GasPanic · 06/04/2025 13:18

Who is currently paying the bills and council tax ?

Sibling who is living in the house

OP posts:
GasPanic · 06/04/2025 13:18

Who is currently paying the bills and council tax ?

Riaanna · 06/04/2025 13:18

If she died two years ago why haven’t you sold the house?

zeebra · 06/04/2025 13:17

Am I missing something here? If sibling 2 and 3 are expecting 80k, they will end up with more money that sibling 1. Three lots of 80k is 240k but it sounds like there is only 220k in the will so sibling one will end up with less.

Original poster
Lanzarotelady · 06/04/2025 13:17

LittleBigHead · 06/04/2025 13:14

Whaaaaa?

The "nomad" brother is taking the mick. He's expecting the women in his life (his sisters?) to keep on supporting him. He can rent a room, FFS.

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I agree

OP posts:
GasPanic · 06/04/2025 13:16

If the house is worth 160k and 60k in savings then that is about 70K each.

If it is a large house for 1 person common sense dictates that the one being made homeless will be able to buy a place for themselves for less than 160K and 70K is a big chunk of that.

Could well be costing you money all the time as the property market is going down in many areas.

LittleBigHead · 06/04/2025 13:14

Lanzarotelady · 06/04/2025 13:02

Mum died over 2 years ago, probate all settled, just the three of them to make any decisions

Whaaaaa?

The "nomad" brother is taking the mick. He's expecting the women in his life (his sisters?) to keep on supporting him. He can rent a room, FFS.

AxolotlEars · 06/04/2025 13:13

Sell house and divide the proceeds three ways. Divide money in bank three ways. Adult children do whatever they want with the money.
Alternatively adult child without property buys the other adult children out of the property

blubberyboo · 06/04/2025 13:12

I don't see how he could be allowed to access the cash now until probate is sorted.

after that the executor would not be able to give it to him without safeguarding the other 2 shares. Ie some sort of written agreement via solicitors to pay his share of maintenance to the house until sold and to pay some back if house doesn't reach expected price. If he renegades then the others could seek an order charging land against his new house. In other words it needs to be drafted legally via solicitors. Not just hand him the cash from the bank account...which should be frozen against this type of transaction.

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