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Help Needed please. Buying out siblings share of inherited property.

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  • Help Needed please. Buying out siblings share of inherited property.

    Hello. Please bear with me i'm new to all this. the last experience of buying/selling property was my house 22 years ago!

    Sadly in June my father died. He left a sum of money and his house which he fully owned to myself and my brother and sister, equal shares. I live in Somerset where the property is, my sister in Yoekshire and my brother in spain. They have no interest in the property and want it sold and 'their share' ASAP.

    I have offered and they have agreed for me to buy out their share in the property. We have agreed on a price and there is no dispute. I would be paying cash, there is no mortgage or loans involved.

    My sister and I are exectuters of the will. I have handled probate which has been quite straightforward solely by myself and have a interview with probate next week. My sister has deferred herself.

    Obviously i want everything legally watertight. My relationship with my siblings, especially my sister who deliberately moved last year leaving our father who was dying for me to care for, is a best strained.

    How is it best to proceed? Do I have to have a seperate solicitor from her, or can one represent us all. Obviously my brother is in Spain so how will that work signing the papers etc?

    I wouldn't want searches or Hip's surveys done on the property so it's basically getting them to sign away their share to me in exchange for a sum of money.

    Any advice please?

    Also they are under the impression the deeds have to be put in each of our names and then resubmitted for their names taken off, can this all be tied in together? Also the deeds are a big bundle of old papers (the house is Victorian). Does this all get sent away or only part? I would hate to lose all the lovely handwritten old historic stuff?

    Thank you in advance for any help.

  • #2
    I suggest you handle this in two stages: first, you as executor should sign an "Assent", by which the property will be transferred from your late father's name into the names of you, your sister and your brother, as the beneficiaries under the Will. Then, you, your sister and your brother should sign a "Transfer", transferring the property from the joint names of the three of you into your sole name in exchange for the monmey you have agreed to pay. Though you could "Assent" the property direct into your sole name and pay the monmey to your sister and brother, doing it in two stages shows a clear paper trail, so you cannot be accused later of fiddling anything.

    If the property is not yet registered, you will need to register it as part of the process

    I anticipate that one solicitor can prepare all the paperwork, as your sister and brother will not need to be represented. They will, however, need to provide satisfactory proof of ID, as the Land Registry will insist on this

    I hope this helps
    This is based on my experience as a conveyancing solicitor in England, but I do not accept liability for information I give in this forum