Willed property to 4 offspring.

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STEINER

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An elderly relative has willed the family home to all 4 adult children. The relative is in a nursing home and the house is unoccupied. 3 children moved out many years ago and the 4th only moved out in recent years. No4 understands the parent's will leaves the house to all 4, and as he would like to own and live in his childhood home, he expects to have to buy the others out when his parent dies. His siblings would have no interest in the sentimentality and would be keen to just get their share in cash. I imagine that rather than put the house up for general sale that no4 would buy the others out with a reasonable offer.

My query relates to expenditure incurred by no4 in renovating/repairing/maintaining parts of the house prior to parent going into nursing home care and since then also. When the parent passes away, can no4 legally get reimbursement for these expenses from the value of the house so that no4 pays the other 3 siblings a reduced amount?

eg house worth 100k less no4's spending on renovation/repairs 20k = 80k

no 4 pays 20k each to the 3 siblings based on 80k rather than 25k each based on 100k value.
 
I am not a legal expert but as I see it the parent is still alive they may still change their will.

They should wait until the parent dies before they start fighting over the value of the property and sentimentality etc.

I thing what is done to get the valuation is to put the house up for sale and match the best offer.
 
Whatever about the morbidity of having this discussion before the houseowner dies.........It will depend on what the others think.

If they will go along with it, its quite possible. If, however, they feel that any renovations done were done for the benefit of the houseowner as a gift, they may well take the view that Number 4 is taking the proverbial! And insist that their share of the house is at market value as at date of death.

mf
 
The parent is not going to sell the family home or change the will, thats quite ok. My query relates to significant expense incurred by one of the adult children in repairs/maintenance to the property and reimbursement of same when the parent passes away. I think there is some legal term to describe this situation, but I don't know anything about it.
 
It is for the four to agree how to handle this. If they can't, it's going to lead to possible disagreements. For example, the 3 could argue that the 4th derived more benefit from the house and any renovations made were for example in lieu of rent or normal maintenance expense of living in a house. If the renovation benefited the 4th occupancy of the property, they may feel that the costs should not be discounted off their share. Did the renovation increase the value of the property?
 
Luternau said:
It is for the four to agree how to handle this. If they can't, it's going to lead to possible disagreements. For example, the 3 could argue that the 4th derived more benefit from the house and any renovations made were for example in lieu of rent or normal maintenance expense of living in a house. If the renovation benefited the 4th occupancy of the property, they may feel that the costs should not be discounted off their share. Did the renovation increase the value of the property?
Click to expand...

no4 didn't get any benefit, no4's sole motivation was to have essential basic works carried out purely to allow parent live in the family home as long as possible ie new back door, some new windows, new heating system, adapted bathroom etc. Only 2 years after this the parent's health meant nursing home care was the only option.

The house would require a lot more work upon inheritance ie an extension, re-wiring, gutting the interior etc

The works would have increased the value somewhat, but its only worth about 100k. The parent has not incurred the repair costs. As you put it, I want to know if the costs should be discounted off the other shares, ie annual maintenance, repairs, insurance etc etc

Thanks for all replies also.
 
Would it be right to assume that No. 4 is living rent-free in the house? This should be taken into consideration when assessing valuation and apportioning the estate. It might be best for all if there is an agreement based on reasonable rent which might offset the cost of the maintenance/upkeep of the property.
 
No, No.4 has not lived in the house since parent moved to nursing home. He has his own house but continues to maintain parent's house also.
 
That should make things straightforward. No 4 should retain all receipts for work done (including travel to and from the house and any other personal costs associated with the property maintenance) and these costs have to be deducted from the share of the other 3. No. 4 is entitled to 1/4 of the estate plus maintenance costs, the remaining balance to be divided between other 3. This should be agreed in writing between all 4 siblings now.
 
I think the effort involved from No. 4 should see a return - it is time-consuming and can be frustrating trying to maintain a property which you don't live in. Therefore, I think the other 3 siblings should pay the full cost of the maintenance between them especially if they have no input to the maintenance effort.
 
I agree Eithne, I know he spent a considerable amount of his own free-time, and took leave from work, to meet with various tradesmen at the house to discuss quotes, etc. and then to supervise the work.
 
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