What does it mean for inheriting offspring to take on the family home. It is never going to made to look like a simple process because the legal profession want a part of the pie, but does it really have to be that difficult. There are so many ways to retain ownership of property as opposed to selling out. Often there may be siblings who have to agree on what happens next, then there might be fear of taking on new finance to buy out other family members or may be agreements have to be made as to who retains “ownership” AND in what shares. These are all simple to overcome problems, but agreements have to be reached to keep all parties concerned happy. Which I guess is partly why people engage a solicitor or even a financial adviser to help oversee the transaction.
HERE endeth todays lesson.