Inheritance in part of house.

[TADBEER]

My wife's mother brought a house with my wife's sister. When the mother died the wording on the title deeds were such that the mothers share of the house has been left to her children (3). My wife desperately needs her share of the money that is tied up in the house. Can she force the sister to sell the house to realise her share of the proceeds, or does she have to wait until the sister decides to sell?
If not is there another route that can be taken to realise her inheritance?

[barry1010]

She could sell her share to one or more of the sisters.

[TADBEER]

We did think of this but as the other siblings are pensioners it would be hard for them to raise a loan of in excess of �60K

[barry1010]

It very much depends on the wording of the will and the title register of the house.

[TADBEER]

I'm afraid this is the problem, she didn't leave a will and the wording on the deeds are such that her share should be divided between her 3 children, one of which lives in the house.

[factor-fiction]

She should see a solicitor.

[TADBEER]

I think this is why I asked the question as she wants to know if she can force the sister to sell. Obviously this would have to be done through a solicitor but if it was not possible then she didn't want to waste money on a solicitors exorbitant fees to be told this.

[factor-fiction]

I don't think the fees would be exhorbitant. A solicitor may offer a free half hour consultation first. You can get good advice on AB but sometimes it's better if someone can see the documents, and a solicitor can have a conversation with you to establish all the key facts.

[TADBEER]

Thanks for that I think in the end she will have to go this route. I have said to her that even if it costs �5K she could still end up with �45

[barry1010]

So the house is currently worth �360,000?

[factor-fiction]

She will end up with �45? I assume you meant �45,000 which would mean her share is worth �50,000. (Although you mentioned �60,000 earlier).
So if that �50000 is one-third of the house's value that makes the house value �150,000.
Where does the �360,000 figure come from, barry1010?

[barry1010]

The mother owned the house with her daughter. Assuming they owned it 50/50, mother has left her half. She can't leave the owner's half as well, it isn't hers.
So the three daughters will each inherit one third of half of the value.

[factor-fiction]

Yes, I think you are probably right barry (assuming one share is �60000). But it's a bit confusing to me. I need to draw a family tree as I can't work out why the wife's sister isn't also one of her mother's 3 children.

[barry1010]

She is! There are three sisters, one who bought the house with her mother, the sister who is married to Tadbeer and another sister.
So now the sister who bought the house with mum owns a much bigger share than the other two - one half + one third.

[factor-fiction]

... I suppose the wife's sister is one of the 3 children so she has the initial half share plus a sixth (third of a half) from mum's death, giving her four sixths-, ie two thirds.

It seems a bit harsh to force her to sell when she lives there and owns two thirds.

[TADBEER]

I am sorry to confuse you all, the house was owned by my wife's mother plus her sister and husband. They each had a third share. Mother had 3 children so they all have a third of her share, one of which lives in the house. This makes each child have approx. 11% share in the house. The house is estimated at �500,000 which makes each child have a share worth approx. �50K
P.S the K was missing from my last posting.