he persuaded them to put their house in his name so he could lend against it to pay credit cards off,now he keeps lending against it ,even tho he hasnt paid ant cards off.do i have any claim on the house? is there anything i can do to stop him lending the full value,then refusing to share when the time comes with me and my other brother.we have both left home but he is still living there !!! what can i do if anything ?
2006-11-06 04:51:22 · 21 answers · asked by andrew m 1 in Business & Finance ➔ Renting & Real Estate
be careful you might get caught with his bills
2006-11-06 04:53:37 · answer #1 · answered by english bob 2 · 1⤊ 1⤋
You might still get an inheritance if your parents have other assets, but you won't be entitled to any share of the house (unless, as already said, a specific clause was added when title was transferred).
If he keeps using the house to secure more borrowing but not paying it back, then there is a real risk that the lenders will reposes the house - making your brother and your parents homeless. You need to speak to the rest of your family and the Citizens Advice Bureau / a lawyer ASAP!
2006-11-06 05:03:16 · answer #2 · answered by Anonymous · 0⤊ 0⤋
You need to check with a lawyer. The only way you will have any claim on your parents inheritance is if they mention it in their will. You need to understand that your brother has the house right now and if he is borrowing against it, it won't be worth anything when you might be entitled to it. The bank will foreclose on it. You might want to check with your parents now that they are still alive and get as much information as you can. Thank you.
2006-11-06 08:35:38 · answer #3 · answered by cookie 6 · 0⤊ 0⤋
a million. How lengthy have your father and mom been divorced? considering that i became a million a million/2 i'm 19 now 2. Why did they get divorced? (in case you comprehend) they in basic terms did not get alongside, began having transformations 3. Do they get alongside? they don't communicate over with one yet another and have not for years 4. what's the custody association? They both percentage custody of me 5. Has it continually been an same? Are you asking from the previous question.. then sure. 6. Do you've brothers and sisters with an same custody? nicely it really is the position it receives a touch more effective complicated. My dad remarried and had a daughter. My mom not in any respect did yet had a baby with a boyfriend for a lengthy time period yet that they had shared custody and now apparently he does. i do not quite comprehend. 7. Do you've stepbrothers and sisters? what's their association like? None 8. Do you get alongside with them? 9. How lengthy have your father and mom been remarried (in the adventure that they have got been) ? My dad considering that i became 4, yet they dated considering that i became 2 10. Do you get such as your stepparents? No, not in any respect have 11. what's your plan for the summer season? college 12. Whose abode are you at right this moment? Me and my boyfriend and our pets
2016-11-28 20:24:55 · answer #4 · answered by plyler 4 · 0⤊ 0⤋
You will not get anything as 'he' and not your parents is the owner of the property. If the deed has been transferred, then you have no right to claim against the property and unless your folks had a solicitor add something tot he deed of ownership in your favour, there is nothing that they can do to assist.
Sadly (as you seem to be aware), borrowing against a property is a very bad idea. It sounds as though your brother is about to reduce your parents home to nothing more than a pile of bills.
2006-11-06 04:54:54 · answer #5 · answered by nickthesurfer 4 · 3⤊ 0⤋
oh dear! i am guessing that your brother is your parents favourite and / or they feel some guilt about him turning in to such an irresponsible prat and therefore treat him with too much favour.
There is nothing you can do to affect your parents decisions regarding inheritance. it would look money grabbing because it is.
What about your poor parents being kicked out of thier home when he has spent everything? thats got to be even worse.
I assume you have your own life and pay your own bills. if so, then good for you. feel sorry for your brother he is a spoilt child. its you that will be happier in the longer term. inheritance or not.
final thought - isnt it better to be self made in life?
2006-11-06 05:01:33 · answer #6 · answered by dave 1 · 1⤊ 0⤋
Since he is the owner on record, the property has effectively been conveyed from your parents to him. They can't even bequeth it to you in their will since it is no longer their property.
They should have taken out a second mortgage on the property and ensured it provided in the will that any proceeds from the sale of the property made out to him would be less the debt he owes them..........you had better sort it out right now while your parents are still around to make their intentions known. I recommend the services of a good estate lawyer.
2006-11-06 06:20:44 · answer #7 · answered by boston857 5 · 0⤊ 0⤋
Worryingly, if he keeps piling up the debts then there may not be a house by that point in time if he goes under and the house is repossessed. You should make your parents aware of this risk in the hope that maybe this matter can be discussed, if he is not aware of the dangers of debt, else you could all lose out.
2006-11-06 05:02:05 · answer #8 · answered by becky21080 2 · 0⤊ 0⤋
You have been screwed, and if what you say is correct, so have your parents, if your brother keeps borrowing and getting into debt he will loose the house and your parents could end up on the street, I would see a lawyer a soon as possible, before there is nothing to save.
2006-11-06 05:04:30 · answer #9 · answered by ? 6 · 0⤊ 0⤋
holy crap, i thought this kind of crap was for tv movies only
isnt it up to your parents to decide what they give and who they want to give it to?
you ask this question as if you are owed a part of the value of the house. you might die b4 ur parents do anyway. or they may give everything to 1 child , or even give all of you nothing, and donate it.
point is... its really none of your business until they are gone. and if they know that you are already bickering about what you get after they die, then shame on them for raising such a complete jerk-0ff.
if it was me, id remove you completely from the will as soon as you you approached me to tell me that your sibling is wasting "your" inheritance
you greedy dungball of a man, go do something nice for your parents, and think about what you can do for them in their final days. start saving now too, cause its gonna be expensive.
dont have kids
2006-11-06 05:11:37 · answer #10 · answered by THEMENACE47 3 · 0⤊ 0⤋
IF the house is in ONLY his name, than your parents and their estate have no claim to it. He's basically Pi$$Ing away your inheritance.
Demand that he cease what he's doing. Get a title report for the property and see what the total mortgages are on it. He's screwing you over.
2006-11-06 05:00:41 · answer #11 · answered by Anonymous · 1⤊ 0⤋