Hello both my parents died last year . The only asset of their estates was there house left between me and my 2 daughters . Now to keep the house in the family as an asset we have come up with a plan .
1 daughter has signed a deed of varistion ,gifting me her third share .
The second daughter has agreed a price of £55,000 for her share .
So i have inherited 2/3 of the estate and second daughtwr 1/3
The original valuation for probate of the house was £240,000 which we thought was way to high .
I have had a valuation by a chartered surveyor done for a mortage to pay second daughter and it came back at a relaidtic £215,000.
We did have the house on the market for 3 months with offers over £200.000 and didnt get any offers .
The problem is the probate solicitor is saying the second daughter cant have £55,000 as this does not reflect a 1/3 value of the house, but it is less . Surelye he cant dictate whst arrangement we have come to as a family .
Just to clarify both dsughters are adults and are more than happy with the arrangement .
The house is still in my late parents names
1 daughter has signed a deed of varistion ,gifting me her third share .
The second daughter has agreed a price of £55,000 for her share .
So i have inherited 2/3 of the estate and second daughtwr 1/3
The original valuation for probate of the house was £240,000 which we thought was way to high .
I have had a valuation by a chartered surveyor done for a mortage to pay second daughter and it came back at a relaidtic £215,000.
We did have the house on the market for 3 months with offers over £200.000 and didnt get any offers .
The problem is the probate solicitor is saying the second daughter cant have £55,000 as this does not reflect a 1/3 value of the house, but it is less . Surelye he cant dictate whst arrangement we have come to as a family .
Just to clarify both dsughters are adults and are more than happy with the arrangement .
The house is still in my late parents names