Page 1 of Inheritance Gone

My sister rang me last night (from USA) and told me our 73 year old dad has sold his house. Not a problem he`s entitled to do what he pleases with it but... He sold it to our youngest (of two) brother. Again, no problem with that but... when my brother got the mortgage on the house my dad `lent` the money back to my brother to buy a half share in a used car business! Now that`s the bit that worries us.

Now, bearing in mind that it was only 4 weeks ago that I asked if I could move into `his` empty house (he`s moved in with his girlfriend) for a few weeks if we sold our house before completing another house purchase so we had no chain, which he said was OK. Then 2 weeks ago bumped into him with his GF in town, went for coffee, talked about houses we`ve viewed, showed house brochures and again mentioned temporarily moving into his house (and it would only temp, wooden windows that the net curtains freeze to is my main memory of being a child there). His GF even took us, after coffee, to look at a bungalow that used to be her friends before she`d died but unfortunately was out of our price range. The very next day I went past my dad`s house at 10pm and there was all lights on, people inside and a van.

I rang my dad as soon as I got home and he said he`d rented it out to my brother`s mate. Fair enough, I thought but why couldn`t he have told me yesterday when we were talking about it? and then rang my sister in America. Yesterday, she asked him what was going on and he admitted selling it to my brother etc. While I was on the phone to her looked on the houseprices website and he actually sold it 26/2/04! AND, we don`t know how to tell our other brother.

My mother will be turning in her grave...
She always said `The house will be split 4-ways when we die.`

My dad has sold his house and got nothing to show for it, my brother has a house (well a mortgage) and a business.

Sorry to rant, I needed it before I blow a fuse,

Jill

Rant away lovey. I`ve seen similar situations happen with my dad`s side of the family.




http://p218.ezboard.com/btrollcityrevisited"" target="_blank"> TROLL CITY

Out of interest, where is your father living now if he has sold his house and given the money to your brother? You need to make sure that the `loan` to your brother is just that, and there is some form of signed agreement to that end, so that when your father dies, if the loan has not been repaid then you get a share in the used car business. The worst case would be if the business goes belly up, and the money is lost :/ You should talk with your other siblings about it. I am in the fortunate position of being an only child, so i have none of these issues, although it gets a bit lonley sometimes :(



The Bigman Cometh

Get a family meeting tabled & document this down now, so at least you can call for a accounting of the estate later ie get it in writing that brother has already received x amount & y amount (if any) was paid back.

At times like this I`m glad dad has kept his independence since he was widowed 12+ years ago, theres only me & my sister to sort out the estate.

Later problems will occur with THO dad (largely absent from her life) as his step-daughter will eventually inherit half the house, while his daughters get 25% shares each.

The eventual scenario I envisage, is that "Sig" will inherit the house first & then pass on the entire estate to her daughter. Personally I am not that bothered as he`s a lousy father & grandfather, but I can see THO removed finally from her fathers life.

Keep on ranting!



I quite like the Helpdesk people in a benevolent (as opposed to malevolent) way as they do some valuable work in preventing us being inundated by every halfwit who can work a phone.

I would do two things,first call a family meeting and stop calling him brother. >:(
Then go from there.

Up until yesterday, the only `worries/wonders` was what will happen if/when my dad marries his girlfriend who he`s only known since Christmas and moved in with in March. `It`s a bit quick` I said to my sister, My sister said `Is she after his money/house?`

Up until March my dad was living at home like he has done for the past 40 years so he must have still been living there after he had sold it to my brother.

We have done a search on 3 different free `houseprices` websites and they all say the house was sold for £80,000 in Feb 2004. How accurate are these websites and where do they get their information?

Can`t talk to my sister again until until after 1pm due to the time difference and then we need to contact my other brother.

Steam is coming out of my ears! :o

Jill

Try this site.
It has accurate for the houses that we bought & sold.
http://www.nethouseprices.com/component/uk_search

Thanks hunsbury0. This was one of the sites I looked at last night and I have just done the search again with the same result.

I`m 100% sure that if my dad had received any money from the sale of his house he would have bought himself a new car or at least a newer car of his own. He`s driving around in an N reg car that belongs to the said `brother`. My dad always wanted a new car when my mum was alive but mum always said `No point buying a new one because they lose £1000`s when you drive them out of the showroom. They were never in a financial position to buy a new car anyway.

I just can`t comprehend it all and I`m just looking back to find clues.

Jill

The websites are extremely accurate, as they reflect the information supplied to the land registry. Of course, it may be that there was some kind of payment for `fixtures` outside of that price, which is often used to avoid stamp duty if near a threshold.



The Bigman Cometh

UpQuote:
until yesterday, the only `worries/wonders` was what will happen if/when my dad marries his girlfriend who he`s only known since Christmas and moved in with in March. `It`s a bit quick` I said to my sister, My sister said `Is she after his money/house?
Putting on my Columbo mac what is the relationship between your "brother" and your dads girlfriend,because most men are usually influenced by the lady in their lives,she must have know about the deal and would realize that she stands to lose out. :/ :/ :/

This item was edited on Sunday, 11th September 2005, 13:36