House sale, 3 adult children, 1 with nowhere to go

[MakeMineALarge1]

So MIL passed away, she had 3 children ( all children 50 yrs +), I am married to one of them
Adult 1 - I am married to, both him and me in good jobs, 1 dependant child
Adult 2 - Single, decent job, mortgage free
Adult 3 - Single - never had a real job, works hard but plays hard and has never settled down, spend half the year skiing and then comes back lives with mum and goes back again in the winter

MIL passed away, house being kept on as if sold, child 3 will effectively be homeless ( they do have 2 children who both have homes and lots of friends, so wouldn't be on the street ) but he cannot buy the other 2 out and cannot afford to keep the house on his self - the house isn't worth a great deal, say £180,000 ball park figure, so if sold and split equally only £60,000 each, which wouldn't be enough to buy him a place, but would cover rent for a good while until i presume benefits kick in?

Adult 1 and 3 are not pushing for the sale and they will not see number 3 homeless, but this can't go on forever ( its all very recent) I am not getting involved, but would be interested in knowing what others think.

Also this situation very much mirrors my own family with my sibling being very much like adult 3 and I may be facing this conundrum in the future.

This. I would be forcing a sale. Adult 3 has taken the piss for far too long.

I think you have a right to be invested. Houses still accrue bills even when empty which your husband is jointly responsible for with his other siblings, this is going to come out of the money you both have at home now. Therefore it’s only fair you can have an opinion.

Personally I would either not sell the house or give him more money to buy his own place, it could be a loan or something. But I have a home & as nice as 60k would be I don't need it desperately. Tricky one.

I guess it also depends on your relationship, I wouldn't want to fall out over it.

Sibling three should pay rent if he wants to stay in the house. He should pay a third of the rental value to each sibling. He also of course should pay all household bills. Any work needed to the house while be split between all three.
They need to set up an official contract though to make sure he does pay them

No one intends to fall out - but I do get that things change and if in 5 years time we are still in this situation then that will be different
Neither my husband or is sibling "need" the money

Why not ask him?

you are all comfortable and he was happy doing what he was doing and clearly MiL was happy to have him back home as and when.

im sure he knew the day was coming and I’m sure he has thought of a plan? Ask what his thoughts are with regards to the house

its only 60k so not huge in the grand scheme of things

maybe it could be rented out as an Airbnb or similar?

Surely 60k would be a decent deposit on a property of his own?

Of all the homeless people in this world, living in the streets or in shitty hostels with few options I have very little sympathy for an adult that has lived in his mothers home spending half the year skiing. He won’t be homeless he’ll have £60,000 to house himself. If he wanted to buy a property outright at his age he could have spent those years working towards that.

Sell the bloody house.

Testina Wow, somebody's who's actually read the OP's posts properly! I too don't understand the comments about him needing to grow up or enter "the real world." He has a seasonal job he's presumably passionate about and isn't too proud to do other low-skilled work in between. Nothing wrong with that.

I don't know that he's a sponger really, if the mil was happy to have him then there wasn't a problem.

Now it needs to be sold though. I wouldn't be happy with it being left empty half the time for one thing, if you're joint beneficiaries it could have break ins, mice, burst pipes etc while empty.

One thing your DH and his brothers need to realise is that the longer the house remains unsold, if prices rise they will have possible capital gains tax to fork out.
DB3 will not get any income based benefits as he will have a share in a property. The house needs to be sold asap.

Not dilemma at all. Sold and split three ways. If house is worth £180k, likely flats are worth £100k.
Even if sibling 3 takes 10k to cover costs of moving and purchase, still will have £50k and is able to get another £50k mortgage for 15 years. Instalment is about £400 per month. Even on minimum age will be able to raise that much. Sorted.

Cc ould the third sibling not use his third as a deposit on a property of his own. If you are in an area where the house is worth £180000 approx. £60000 would be a good deposit on a property of his own? Where I live houses go for around this amount and flats much cheaper.

Why is that a good idea? It gives no. 3 tenancy rights, and potentially lands the other two with hefty bills for upkeep which the rent won't cover.

Split 3 ways. He’s not vulnerable or disabled if he can work. He can look at shared ownership or a park home (although this may not last for the years he needs it). Over 55 only housing is often cheaper to buy. Or maybe he can live permanently abroad? Just don’t let him park a motorhome or camper on your drive. Empty homes still have energy costs, council tax etc. Keeping the current property makes no sense. He needs a low maintenance bachelor flat / bolt hole that can be locked up and left - maybe siblings could invest with him in something that could be Airbnb half the year - although that would mean someone taking on the responsibility for maintenance / running a business.

If a house in the relevant area is worth £180K, then £60K should go a hell of a long way towards a flat. More than enough, I'd say.

I think either sell it, or he pays rent, £60k in the bank would be earning approx £200 per month if getting 3% interest, could he afford a rent that low? Even if he paid more during his work period and then not when he’s working in winter sports.

Yes, not thought about that.

Not a good idea.

So you and your own family are now out of pocket as you have to pay for heating etc.

No way would l disadvantage my own family for the sake of someone else's lazy poorly thought out lifestyle

If the house is being retained to allow Adult 3 a Uk home when he isn’t off doing his ski lessons etc it shouldn’t be costing Adult 1 and 2 anything.

So he’s not a ski instructor working there each winter and picking up casual work here in the summer? It’s not like he HAS to work abroad then, just sounds like he’s enjoying being an eternal Peter Pan doing a season.

the house needs to be sold and he can work as a taxi driver here all year round and take a weeks skiing holiday instead like normal adults . Pay his rent here or buy a smaller house and get a mortgage to age 67.

If a three bed semi is 180k (guess, at the house type but assume former family home) could he get a one or two bed house/flat for 100 ish?

im sure there are options if he sets his mind to it.

Would your MIL have wanted him kicked out of the house like that? Find it slightly odd that no discussions would have been had about this prior to her death?

Adult 3 needs to get a grip, grow up, get a job and rent his own house!

There are plenty of areas where it's possible to buy a flat for £60K. I wouldn't hang around though.