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Rights/Ownership of a Property

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  • Rights/Ownership of a Property

    I need legal advice with regards to a property that myself and my three siblings are quarter owners of each.

    My parents transferred the ownership of our home house into our four names several years back. Our mother passed away five months ago and it has been a nightmare ever since. Myself and my husband are in rented accommodation. My sister rents her own property and one of my brothers rents his own property. The eldest son, who has not got a job for the last four years has been living in the home house rent free.
    Recently there was an altercation with him and my elderly father which ended up in the eldest son punching my Dad and knocking him to the floor. Obviously my father does not want him in the property any longer so therefore myself and my husband had to give up our rented property to move in with my father to care for him (he is 71 and a stroke patient).
    The eldest brother is now in my fathers home house along with Dads elderly sister. The eldest brother is the legal owner of that property.
    The only way that myself and my sister and my brother believe that we could sort this fairly was to get an evaluation on the property (£175k). As it would be myself and my husband that would have to get a mortgage to buy the other three out, we can not afford a mortgage of £131,500 (3/4 of the house). The most we could get a mortgage for would be £75k (my husband is currently out of work). We offered our eldest brother £25k and the other two would get the same, but he point blank refused saying that he wants his quarter of £175k. Its breaking all our hearts as we cannot afford that.

    Please advise how I can proceed with this?
    Many thanks

  • #2
    Re: Rights/Ownership of a Property

    Bottom line is that four people have inherited an equal share of a property valued at £175k.

    Or is it that the eldest is the legal owner?

    I'm a little confused at what you're saying - but if the first sentence, then it may be better just selling the property and moving your father somewhere else.