News1 min ago
Inheritance of property
I have just inherited a farm and a bungalow but only 50% of each. The co-owner is my brother who I don't get on with at all. Is there a way for me to get my money out of either? In other words how can I force him to sell up so that I can get paid out. He currently farms the land rent free and I am offered nothing and won't be. I also asked that he sell me his half of the bungalow and he refused but won't buy my half either. Help anyone please!
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For more on marking an answer as the "Best Answer", please visit our FAQ.Surely it's nothing to do with executors once ownership of the property has been passed to the inheritors?
Grossly simplifying your question, the answer is 'probably, yes, you can get your money'. Though this does depend on a lot of factors. In essence, it involves going to court, so it isn't cheap and it isn't simple. Sorry, but I think you do need a solicitor.
Grossly simplifying your question, the answer is 'probably, yes, you can get your money'. Though this does depend on a lot of factors. In essence, it involves going to court, so it isn't cheap and it isn't simple. Sorry, but I think you do need a solicitor.
If you are the executor you must place the house and property on the market and realise its value, regardless if you are the beneficiary. This is the reason it's a good idea to appoint an executor that's not a beneficiary.
The complication is that it's also his home and business. Your solicitor - you do need one - will show you how to go about this.
The complication is that it's also his home and business. Your solicitor - you do need one - will show you how to go about this.
You then have a dispute between executors - one wanting to sell & the other not. It may depend on the wording of the will. Many wills give executors the power to delay realisation of assets until they want to realise them. You really do need a solicitor to look at the will and advise you on what is possible.
Simply change the names of the proprietors on the Register at the Land Registry to that of yourself and your brother as 50/50 tenants in common (TIC). As joint executors it is a simple DIY job through your local District Land Registry Office, whom you should phone and who will guide you through the process. Cost around �80. You must also phone 0845 6030135 and tell them what you are doing to arrange for a (no cost) Stamp Duty Land Tax Certificate, without which the Land Registry can do nothing. Then if the impasse between yourself and your brother still exists it is just a question of going to court stating that the members of the TIC are unable to agree on its management and pleading for an order to sell the property and divide the proceeds appropriately. These orders are never refused. Legals for this will cost �1500-�2000.