Hi,
first time posting and I was wondering if any one could help me. When my last remaining parent passed away there was no will so we all got equal share in the house. One of my siblings was living in the house at the time, not that they were a carer or anything they were just going through a bad separation in their marriage. Some of my other siblings needed the inheritance money and wanted the house sold but the sibling who was living in the house at the time of the passing had no where to go and no way of buying another house yet. Anyway, the heal of the hunt, I offered to purchase the shares from the others at 75% of their value so that this sibling would have somewhere to live and I took out a mortgage of €110,000 to fund this. Unfortunately the economy crashed and I'm no longer able to fund this mortgage and as it is secured on my own home I may lose my home. I have asked the sibling involved to either buy me out or pay the mortgage but they refuse even though they still own half of there own marital home (no children involved) but they don't want to bother their ex. The house is now worth less than I paid out. And the sibling has been living in the house rent free for about 8 years now, while I've been paying a mortgage of about €590 a month(about €40,000 to now). Obviously they didn't get a share in the house at the time as they were getting to live in the house. Now, after they being so unreasonable considering my dire financial position and what I did for them in their time of need, what I need to know is;
1 Can I force a sale of the house
2 If I loose my house can I take possession (have 3 kids and wife)
3 As they've lived in the house rent free for 8 years(at a cost to me of around €40,000) will they be entitled to a share of the house
first time posting and I was wondering if any one could help me. When my last remaining parent passed away there was no will so we all got equal share in the house. One of my siblings was living in the house at the time, not that they were a carer or anything they were just going through a bad separation in their marriage. Some of my other siblings needed the inheritance money and wanted the house sold but the sibling who was living in the house at the time of the passing had no where to go and no way of buying another house yet. Anyway, the heal of the hunt, I offered to purchase the shares from the others at 75% of their value so that this sibling would have somewhere to live and I took out a mortgage of €110,000 to fund this. Unfortunately the economy crashed and I'm no longer able to fund this mortgage and as it is secured on my own home I may lose my home. I have asked the sibling involved to either buy me out or pay the mortgage but they refuse even though they still own half of there own marital home (no children involved) but they don't want to bother their ex. The house is now worth less than I paid out. And the sibling has been living in the house rent free for about 8 years now, while I've been paying a mortgage of about €590 a month(about €40,000 to now). Obviously they didn't get a share in the house at the time as they were getting to live in the house. Now, after they being so unreasonable considering my dire financial position and what I did for them in their time of need, what I need to know is;
1 Can I force a sale of the house
2 If I loose my house can I take possession (have 3 kids and wife)
3 As they've lived in the house rent free for 8 years(at a cost to me of around €40,000) will they be entitled to a share of the house