Inheriting share of property
Posted: October 18th, 2023, 8:06 am
Morning Fools.
I have what is probably a very silly rookie question but hoping someone more knowledgeable can advise.
My late mother passed away in 2022 and the administration of her estate is just now being finalised. She left 50% of her share in the parental home to my father, who still lives there and owns the remaining 50%. So she has gifted him a further 25% on top of what he already owns. The remaining 25% is to be split evenly between me and my three siblings.
I rent my current home and have never owned even a share in a house before. So I am looking to understand what my rights and responsibilities are, and also those of my Dad. Is anyone able to break this down for me, please?
I have what is probably a very silly rookie question but hoping someone more knowledgeable can advise.
My late mother passed away in 2022 and the administration of her estate is just now being finalised. She left 50% of her share in the parental home to my father, who still lives there and owns the remaining 50%. So she has gifted him a further 25% on top of what he already owns. The remaining 25% is to be split evenly between me and my three siblings.
I rent my current home and have never owned even a share in a house before. So I am looking to understand what my rights and responsibilities are, and also those of my Dad. Is anyone able to break this down for me, please?