Hi there
I want to run something by people that are not biased.
My family are deciding how to set up the ownership of our family residence.
In general we intend to use the country residence as a place where all siblings can come and go as they chose. It’s like a mini country estate.
My sister’s husband wants “tenancy in common” to “protect his interest via his wife in case she passes on”
The property came to us all without cost inputs from anyone- apart from my upgrading with about 20k expense so far.
My response to this is “it’s not really any of your business. We initially verbally agreed on joint tenancy to prevent legal rows and keep the property in our “original family ownership”
Am I being selfish or is he?
I imagine that if it comes to a situation via “tenancy in common” that he will try to sell his share, or want to be bought out.
This goes against my desire to have it as an “original family home”
Am I being naive?
Thanks for reading J
I want to run something by people that are not biased.
My family are deciding how to set up the ownership of our family residence.
In general we intend to use the country residence as a place where all siblings can come and go as they chose. It’s like a mini country estate.
My sister’s husband wants “tenancy in common” to “protect his interest via his wife in case she passes on”
The property came to us all without cost inputs from anyone- apart from my upgrading with about 20k expense so far.
My response to this is “it’s not really any of your business. We initially verbally agreed on joint tenancy to prevent legal rows and keep the property in our “original family ownership”
Am I being selfish or is he?
I imagine that if it comes to a situation via “tenancy in common” that he will try to sell his share, or want to be bought out.
This goes against my desire to have it as an “original family home”
Am I being naive?
Thanks for reading J