DH and his late mother’s house

[Somethingsosimple]

My DH sadly lost his mother last year, she has a property that has been left to my DH and his sister. My Dh’s sister wishes to buy the house. My sister in law wants to put just her name on the deeds and pay my DH the money rather than put his name on the deeds before she buys him out. I’m slightly uneasy about this. I’m not sure how this would work if she died suddenly while the house is in her name. Can someone advise me please

Of she’s buying him out, why would his name ever need to be on the deeds? It would not be his house; it would be hers and she could leave it to whomever she wanted to.

Oh. I see. Before she buys him out. I think you would just say that it needs to be simultaneous.

Sorry I haven’t made it clear. Usually I believe the deeds would have both the names on it before they sold the house as they have joint ownership. But because she is buying my dhs share she wants to not bother adding both names to start with

Simply; she needs to pay the money on the same day the seeds are transferred. A solicitor can arrange that for you.

Deeds not seeds!

Has the estate been finalised and paid out? If not, is there a way that your DH gets 'his share' in other assets?

As a PP says, any payment to your DH needs to be simultaneous with your SIL putting her name on the deeds of the house.
I'd speak to a solicitor to handle personally.

It needs to happen as one transaction, I personally would get a solicitor to do it to cover legalities.

The conveyancing will involve changing the deeds from the mother's name to the sisters name and at the same time (same day) transferring the money to your DH. As though you were selling and purchasing and settling a mortgage but with no actual moving on the day and with your DH as the "mortgage" settlement

@CatGoals Xpost!

It makes sense to save the cost of transferring from executors to her and your husband only for her to buy out your husband. Your husband just needs the cash, up to that point the executors will be holding it for both of them so there is no problem if she dies before she buys him out.

I don't think he has anything to worry about.

How are your DH and SIL agreeing the value of the house?

I had this with a sibling and we got three estate agent valuations first and took an average.

Caveat: not a solicitor. But I wouldn’t have thought a conveyancing solicitor would complete a transfer like this with an outstanding charge from you DH on the property (as part of the inheritance). They’d want your SIL to transfer the funds to him as part of the transaction. At the very least they’d want to formally register his interest. There’s no way they’d just say, ‘oh. You’re going to sort it out yourselves when you get round to it. Lovely.’

I bought my sister out of my late DM’s house. We didn’t put it into both names first. It went from DM’s name straight to mine. A little extra work for the solicitor but very straightforward.

Keep his name in the deeds until he has his money!!!

As it’s not his house, he cannot go on the deeds. It’s currently going through probate. As others say, transfer the money from his sister as probate is finalised.