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Whats the score after being left a house after a family death?

Joker62

ADC
Moderator
Book Reviewer
The MiL died in March, left no will. Probate has been sorted, the house is left to the wife and her brother. They've come to an agreement that the MiL's partner can live there until he pops off. He doesn't pay rent but does pay for the upkeep at the moment, that is redecorating to his standard, paying for contents insurance and utilities. Wife has mentioned getting a contract drawn up between all 3 so that her brother (a complete waster) doesn't try to sell the house on his own. There is a substantial cash amount to be divided between the kids and building insurance needs to be paid yearly which has been sorted. The question is will it need to be normal building insurance or Landlords insurance.

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From our own "family" experience trust no one! Amazing thing about greed it knows no boundaries, as to insurance you should give the live in partner a legal tenancy agreement which of course makes your wife/bil landlords. This will also block any moves that he might make in the future to move friends in or even try to sublet, and yes that happened.
 
If there was no will, how is it that the house and I presume contents were left, equally? To your other half and her brother?

If the brother is likely to sell his half I'd deffo get some sort of contract drawn up. Even a temporary one until something more comprehensive can be sorted out.
 
I'm with @revmodes - money does funny things to people.

A best mate from my intake is currently having to deal with his brother trying to force their mother off the family farm. He wants to sell the land to developers and keep it all for himself.
 
If there was no will, how is it that the house and I presume contents were left, equally? To your other half and her brother?

If the brother is likely to sell his half I'd deffo get some sort of contract drawn up. Even a temporary one until something more comprehensive can be sorted out.
It has gone to probate judging by the Op's remarks, so legally distributed . As you say a contract is a must, you have no family or friends when it comes to grabbing money or assets.
 
Put in a planning application for a live entertainment venue with the council, then stick up a big red neon sign that flashes "GIRLS GIRLS GIRLS SEXY LIVE SHOW BOOKS MAGS VIDEOS PEEP SHOW" As long as you give the neighbours free membership you shouldn't have a problem, then sit back and enjoy the monetary rewards that come with being the Paul Raymond of your village. Your MIL's partner can do front of house, your brother in law can have a compromising situation happen to him, complete with video evidence, that'll shut him up.
 
Put in a planning application for a live entertainment venue with the council, then stick up a big red neon sign that flashes "GIRLS GIRLS GIRLS SEXY LIVE SHOW BOOKS MAGS VIDEOS PEEP SHOW" As long as you give the neighbours free membership you shouldn't have a problem, then sit back and enjoy the monetary rewards that come with being the Paul Raymond of your village. Your MIL's partner can do front of house, your brother in law can have a compromising situation happen to him, complete with video evidence, that'll shut him up.
I think a second 'sexy - 'SEXY SEXY LIVE SHOW' would be better.
 
The MiL died in March, left no will. Probate has been sorted, the house is left to the wife and her brother. They've come to an agreement that the MiL's partner can live there until he pops off. He doesn't pay rent but does pay for the upkeep at the moment, that is redecorating to his standard, paying for contents insurance and utilities. Wife has mentioned getting a contract drawn up between all 3 so that her brother (a complete waster) doesn't try to sell the house on his own. There is a substantial cash amount to be divided between the kids and building insurance needs to be paid yearly which has been sorted. The question is will it need to be normal building insurance or Landlords insurance.

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As probate has been sorted the house should be in both your wife and BIL names as legal and beneficial joint tenants, he can’t sell the house without your wife’s agreement. So you‘ve no worries there.

Regarding your MIL’s partner, you will need a tenancy agreement (in effect a contract). This will give all parties legal rights and protections, it can set the level of rent, his obligations towards maintenance and any periodic inspections you may want to make to ensure he is meeting his obligations. You may also want to include in there if he can have anyone else living with him.

it may be worth speaking to HMRC to ensure everything Is above board.

As always, get proper legal advice, I could easily be wide of the mark.
 
I think the OP needs to look into potential capital gains tax issues on this. Presuming you and your wife already own a property I think that unless you sell it within the Inheritance Tax payment period (6 months?) you may later be lumbered for capital gains tax when you get the property back.

Sorry I am vague on this but I think it just needs to be looked into.
 
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