can beneficiaries sell house with a right of residence

MarBen

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In the will mother leaves house to several adult children - all an equal share - but husband has right of residence in it for life although he now in nursing home and suffering from dementia. One beneficiary has with the agreement of all the others, offered to purchase house i.e. buy out the others and maintain right of residence. Will this cause any problems for the buyer in the future? Probate is not yet complete so am hoping to have more information before probate completes. Btw the fair deal scheme is relevant here and the up to 22.5% accessed is paid monthly not deferred.
 
If the house is involved in fair deal it sounds as if the husband owns at least 50 % of the house already? It would be unusual when a spouse dies that their half of the house would not be willed to the other spouse? So it looks as if you are in very unusual circumstances and would be better off getting professional advice.

We purchased our family home where someone on the vendor side had a right of residence. The purchase was delayed while a monetary figure was calculated on the right of residence and the person paid this in order to quench this right, otherwise the right of residence would have fallen on us when we purchased the house.
 
Will this cause any problems for the buyer in the future?
Btw the fair deal scheme is relevant here and the up to 22.5% accessed is paid monthly not deferred.

It could be a problem for someone when the husband dies, whether that’s the purchaser, the executors, the beneficiary’s, or all 3 I’m not sure.

One of my relations was in a nursing home under Fair Deal, they did not avail of the loan and paid the full 22.5% assessed on their family home over their first three years in care. A few years later they passed away.

The HSE then wrote looking for a copy of the Inland Revenue Affidavit CA24 from probate. The HSE letter also pointed out that under whatever section of the Act, a personal representative is personally liable if the assets of an estate are distributed without repaying any amounts due to the HSE……………..

If the family home was not on the CA24, the HSE would surely have asked, was it sold.

The family home is disregarded from the financial assessment after 3 years, but if it is sold the proceeds are assessable indefinitely.

It is a condition of Fair Deal that the HSE are notified of any change in circumstances, specifically mentioning if you or your partner sell their property, see the bottom of page 1 on the Fair Deal application form.

Also have a look at the 2 notes at the bottom of page 6.

https://www.hse.ie/eng/fair-deal-sc...-for-fair-deal/fair-deal-application-form.pdf

I think you need professional advice on this one.
 
Many thanks for all this advice - I am hoping to investigate myself so you've given me a great few pointers above. I am the only executor - there is very little to distribute - and no worries re arguments etc - I just want to make sure the buyer (who isn't me) is safeguarded too down the road - the HSE did put a value on the right of residence so both answers above gives me good guidance - thank you again
 
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