My nan died last year and didn't leave a will.
There are 8 of my nans kids and as my mum is dead me and my 3 siblings would have her share.
It all seems hush hush, but all of the family have signed a form for a cousin of mine to live in the house, even though he would not have had any inheritance!! I don't really care if I get any money or not, but I think it is unfair for the house to be passed to a man who has made a massive debt on the house, who owns another house and 2 cars!!
So I have not signed and I have been told today that I own 2 1/2 % of the house, but also the debt that this cousin of mine has against the house??? Is this right?? They also say I am responsible for 2 1/2 % of the solicitors fees even though I have not seen or spoken to a solicitor!!
I cannot afford a solicitor and I only have their word. They all keep bullying me to sign.... If the house was offered to other family members that had kids etc I would sign. But this man does not deserve the house, and he is a bully.
I have asked for £5000 and I will sign!!
Am I responsible for the debt too??
Michael C... Yes there is something seriously missing from what they are telling me, this is part of why I won't sign right now as I only have their word!! I did wonder how he could have incurred a debt!
Answer by chmacqueen
If the debt is from such like a refinance loan or mortage loan then it was approved by your nan as she owned it hense the debt is also hers. In that case yes sadly your inheritance would also include a share of the debt on the house. Bad part is debt is often considered an asset which personally makes no sense to me. Guess its a way to screw over a kid that didn't listen.... leave them all your debt and its legal.
Answer by Michael C
How can your cousin have debt against a house he does not own? There is something serious that is missing from your information.
Answer by leegleze
Conservatively speaking, there are at least a dozen people involved in this adventure. How much would your share be anyway? The first poster is correct ... your share of the assets would also include your share of the debt, unfortunately. If it were me, I would get thee to an independent lawyer and sign away all rights to any assets & debts. Sometimes the aggro is just not worth it. I think this is one of those times. Your share will just go back into the residue of the estate or be divided equally between your two siblings. Walk away ... no more aggro, right?
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Orignal From: I have an Inheritance issue!!?
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