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Advice on when I am legally entitiled to buy a property

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  • Advice on when I am legally entitiled to buy a property

    Hello,

    Please could someone offer me some assistance on a complicated matter. I plan to see a solicitor but would like to be prepared first.

    My father died 4 years ago. His share of the property was placed in to the names ogmy brother, my sister and myself. Mt mothers half reamined in her name. We have been named the benerficiaries of her half in her will.

    My mother has subsequently moved in to a care home as she ahs dementia and my sister and I have power of attorney over her affairs.

    The house has been empty for over a year now and the plan has always been that I will buy my brother and sister out eventually. I am now pregnant and we wish to make this mover sooner. What are my legal options.

    1. Can I buy my brother and sister out now on the basis that we have power of attonrey over my Mums half?

    2. If not, my brother and sister are happy for me to move in to the property until such a time when i can leaglly buy them out. If I choose this option can we agree on a price now? I don't want to do the work on the property (in the region of £50k required) and then value to then increase in however many years time. Will I then have to buy them out at the new and current value. I understand there is an issue with selling a house under it's current vlaue.

    I appreciate this is all very vague but any guidence would be appreciated.

  • #2
    Re: Advice on when I am legally entitiled to buy a property

    Any dealings under a power of attorney that are in favour of one of the attorneys would need the approval of the Public Guardian/Court of protection. Subject to that (so assuming it is in your mother's interests) you could now either buy the property outright or buy an option to purchase at a later date at a fixed price that does not take account of any improvements you make meanwhile
    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

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