ChatterBank56 mins ago
Parents Passing Away
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If two parents pass away leaving a house to their children, one of those children moved into the home pays all the utility bills, insurance, taxes on the home but there is no Morgage to pay does the child who moved in have to pay the siblings something like rent while they live in that home that has all there names on it?
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For more on marking an answer as the "Best Answer", please visit our FAQ.Yes, if one is living in it rent should be paid to the other siblings. Whilst he is living in it rent free he is gaining a benefit and depriving his siblings from either their share of the proceeds or their share of the rent if rented out privately.
He should pay all the bills in full and an equal share of maintenance costs. (The costs they would all pay as landlords if it were rented privately).
He should pay all the bills in full and an equal share of maintenance costs. (The costs they would all pay as landlords if it were rented privately).
first of all
sorry for your loss Leroy
try to separate what is law and what is sensible
( like you know do you really want to sell NOW?)
it depends on the wills if any
let us suppose that the four kids inherit in equal part
first of all under what agreement did the occupier - er occupy? and is it written or oral and are they attempting to rely on it - or did you wake one day and find them there?
if they are living in the house and using it then they pay the bills. trying to get the other siblings to pay for their leccy is a bit - - ripe
they have the use of the house and should pay rent
divide by four and three parts go to the other three ( nb this is income to be taxed for the other three)
you should agree a start and stop date and a rent increase date.
the nuclear option is that any one of the other three without agreement can apply to a court for an order to sell
the judge will sign the transfer if one party decides not to
the only way to successfully fight off an order to sell is that the non selling party offers a market price for the property
clearly in todays atmosphere you should be looking to take a rent for a year or two - if the occupier has any brains she will offer now - am I repeating an old family quarrel - yes
and good luck - I am sorry if theothers dont see eye to eye. One of my sibs 'looked on the house as a pension, I can get an order to sell at any time I please at all and cash out' - we never really had a sensible conversation and sold.
sorry for your loss Leroy
try to separate what is law and what is sensible
( like you know do you really want to sell NOW?)
it depends on the wills if any
let us suppose that the four kids inherit in equal part
first of all under what agreement did the occupier - er occupy? and is it written or oral and are they attempting to rely on it - or did you wake one day and find them there?
if they are living in the house and using it then they pay the bills. trying to get the other siblings to pay for their leccy is a bit - - ripe
they have the use of the house and should pay rent
divide by four and three parts go to the other three ( nb this is income to be taxed for the other three)
you should agree a start and stop date and a rent increase date.
the nuclear option is that any one of the other three without agreement can apply to a court for an order to sell
the judge will sign the transfer if one party decides not to
the only way to successfully fight off an order to sell is that the non selling party offers a market price for the property
clearly in todays atmosphere you should be looking to take a rent for a year or two - if the occupier has any brains she will offer now - am I repeating an old family quarrel - yes
and good luck - I am sorry if theothers dont see eye to eye. One of my sibs 'looked on the house as a pension, I can get an order to sell at any time I please at all and cash out' - we never really had a sensible conversation and sold.
Depends what is in the will, is the property left to all siblings? If so does the sibling who is staying in the house want to stay there indefinitely. If this is the case the house should be valued, suggest by more than one agent to compare valuations and he/she should then buy the others out. This happened in my OH's case a number of years ago.
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