home
in

Inheritance - splitting up an inherited property

Last post Wed, Nov 05 2008, 10:26 PM by maxsteam. 3 replies.
Sort Posts: Previous Next
  •  Wed, Nov 05 2008, 10:26 PM

    Re: Inheritance - splitting up an inherited property

    Remember though that selling problems will be similar with the inherited property as for your sister's house.

    Another option to consider is to say that, if things don't move forward by the end of the year, you both agree to put the inherited house on the market. You could then see which sells first and take things from there.

    • Post Points: 5
  •  Wed, Nov 05 2008, 9:58 PM

    Re: Inheritance - splitting up an inherited property

    Thanks, I think this may be the best solution all round.
    • Post Points: 20
  •  Wed, Nov 05 2008, 2:59 PM

    Re: Inheritance - splitting up an inherited property

    Suggest that while her sale is proceeding and you're losing money waiting for her to sell, it's only fair that she compensates you for the equivalent weekly loss by paying you some rent, otherwise you may have to place it on the open market. !

    Or put a shorthold tenant in the house whilst a buyer is found for her property.

    • Post Points: 50
  •  Wed, Nov 05 2008, 1:12 PM

    Inheritance - splitting up an inherited property

    Can anyone advise.

    We have inherited a house to be shared between myself and my sister. My sister wants to buy out my share of the house, but needs to sell her house first to give me my share.(remortgaging her house on a buy to let isn't an option).

    She plans it live with as little mortgage as possible, whereas I haven't made any firms plans with my share of the inheritance, but I do want to put it in a high interest savings account and draw down the interest on an annual basis for home improvements/holidays etc.

    I believe her house is overvalued and hasn't even had a viewing in over six months.

    Whilst I'm sat here waiting for her to sell her house I'm losing interest and also the price of the family house is falling rapidly, therefore reducing the amount I will get off my sister. I don't want to force the sale of the family house we have inherited, but I don't want to lose interest payments.

    Any ideas as to what might be a happy resolution, or has anyone been through this and are still talking to the rest of the family...

    • Post Points: 20