The UK's independent property information site

Go Back   Home Move: property forum > Property Forums > Solicitors and Legal


Solicitors and Legal Legal issues and fees about buying/selling a property.

Reply
 
LinkBack Thread Tools
  #1 (permalink)  
Old 28-01-2010, 01:36 PM
Junior Member
 
Join Date: Jan 2010
Posts: 1
Default Advice on when I am legally entitiled to buy a property

Hello,

Please could someone offer me some assistance on a complicated matter. I plan to see a solicitor but would like to be prepared first.

My father died 4 years ago. His share of the property was placed in to the names ogmy brother, my sister and myself. Mt mothers half reamined in her name. We have been named the benerficiaries of her half in her will.

My mother has subsequently moved in to a care home as she ahs dementia and my sister and I have power of attorney over her affairs.

The house has been empty for over a year now and the plan has always been that I will buy my brother and sister out eventually. I am now pregnant and we wish to make this mover sooner. What are my legal options.

1. Can I buy my brother and sister out now on the basis that we have power of attonrey over my Mums half?

2. If not, my brother and sister are happy for me to move in to the property until such a time when i can leaglly buy them out. If I choose this option can we agree on a price now? I don't want to do the work on the property (in the region of £50k required) and then value to then increase in however many years time. Will I then have to buy them out at the new and current value. I understand there is an issue with selling a house under it's current vlaue.

I appreciate this is all very vague but any guidence would be appreciated.
Reply With Quote
  #2 (permalink)  
Old 01-02-2010, 12:02 PM
Senior Member
 
Join Date: May 2009
Location: Tenterden, Kent
Posts: 279
Default Re: Advice on when I am legally entitiled to buy a property

Any dealings under a power of attorney that are in favour of one of the attorneys would need the approval of the Public Guardian/Court of protection. Subject to that (so assuming it is in your mother's interests) you could now either buy the property outright or buy an option to purchase at a later date at a fixed price that does not take account of any improvements you make meanwhile
__________________
This is based on my experience as a conveyancing solicitor in England, but I do not accept liability for information I give in this forum
Reply With Quote
Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off


 

» Property Boards
Buying Property Selling Property Estate Agents Solicitors & Legal Builders & Developments
Property Development Home Improvements Buying Property Abroad


All times are GMT +1. The time now is 09:16 AM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2012, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.6.0 ©2011, Crawlability, Inc.

Important Notice: HomeMove.co.uk does not provide professional advice on any aspect of buying, selling, developing or investing property. All posts are provided as lay opinions and not personal professional guidance. You should always seek a qualified professional for professional advice in relation to your personal circumstances. The HomeMove.co.uk forums are not monitored, and the site administrators cannot be held liable for the content of the forum. If you have any objection to any post on the forums, please either use the Report Post feature, or else Contact Us to ensure such content is properly dealt with. We are not responsible for third party links on the site.