However, I was thinking because of the gift of the middle house, the middle sister will have a big tax bill if they inherit the family home too. The middle house needed complete renovation when they got it.
My dad frets about this in the sense of being fair to all, but doesn’t really grasp the tax implications etc. probably selling the whole three premises makes the most sense but sister 2 is very emotionally attached.
It would definitely makes things easier but it wouldn’t necessarily be right.I don't really have any advice to give, but I just wanted to say I admire your stance and fairness. If your NZ sister could follow your lead it would make things a lot easier.
So she’d like the full estate. That’s a stance I guess.When I say she is emotionally attached, I mean to the whole place, it had been unofficially used as one house for many years as we grew up ie. door broken through (now blocked up) and yards/gardens all shared as one, a couple of generations lived in one of the houses etc. Small town. She won’t want to move.
My sister has completely renovated, extended and runs a business from that house now and is 60 so I think would not be in a position to take out a new mortgage. Their house is better than the family home at this stage.
“you can agree to leave it as a debt to the estate and you can inherit the debt. So she pays you off when she can”.
I didn’t know this was a possibility. Not sure I understand how it would work - does that leave probate etc going on for years?
The question in the thread title is:Is there a will in place ? If so what does that say ?
Executor/s have too follow what a will says.
Complicated family home/rental property arrangement - how to sort the will
It’s not so much they want two houses, I think. They don’t want to move, they want to carry on living as they have been, with really shared access to both backyards/gardens. The right of way to the rear of their house would effectively be reduced to pedestrian access only, due to position of the buildings. Currently they use the family home yard to park vehicles, have use of outbuildings etc. All permitted by my parents over the years. If the family home is sold, (even if someone would buy it given the right of way) the would have to park well away from their house, and there would be an impact on their business and hobbies with no access to the outbuildings there.Your sister seems to want two houses?
That is unrealistic.
Can the access of the family home to the back yard be cut off. If so, then you could sell the family home and problem solved.
If your sister wants to keep the family home, she can sell her own house as it's worth more and won't need to borrow any money.
Thanks for your very comprehensive reply! That’s really helpful to have it broken down like that. I will have to digest the scenarios. Having a family meeting sounds good in principle but the family dynamics…If your sister & family died tomorrow could the house be sold as a separate entity? Would your dad be able to allow right of access while makings his garden, yard & outbuildings private?
Thinking about it, it would be difficult - a large outbuilding would have to be knocked to create a lane way to sister’s house. The outbuilding she needs most. But not impossible. It would leave a yard for the family home but no garden as such, but as you say, not necessarily a problem.Can the family home not be sold with the back yard cut off? It's hard to answer without seeing a map.
a large outbuilding would have to be knocked to create a lane way to sister’s house.
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