Shared ownership - anyone help ?

[MisterC]

I'm in a similar situation (but in reverse), unless specifically stipulated in the will, the executors will be duty bound dispose of the property and split the proceeds.

[nachovx]

Assuming she insists on her half of the house you may have to pay her half it's market value to stay as owner. Alternately you could have the will changed so she only gets her money when you decide to sell. She would have no right of access while it was your home.

[MisterC]

The executors do have a duty to expediently maximise the value of any sale, whilst selling the property quickly at auction may be precluded, so is sitting on the property for years too.

Ultimately though your folks can attach conditions to will such allowing you a period of grace before any sale or if the value of the rest your share of the estate is sufficient then if 50% of the market rate is paid then you could buy your sister out.

[nachovx]

If you had half of the current market value in disposable cash you could just pay her off and have the house put in your sole name. If she forced a sale, it would have to be at a fair market rate.

[mart]

Consult a solicitor.

Mart

[steve56]

ive been here funny enough,i had to quit the flat i lived in for 40 odd yrs fact being the tenancy can only be handed over once,went to a soliticor managed to stay there for about 18 months but aug 15th 03 had to move.