Keen to ensure a property inherited by siblings isn’t sold and remains in the family? Learn more about how buying out a sibling’s share of an inherited house in the UK works from the experienced solicitors at Freeman Jones Solicitors.
Can I buy out my siblings in an inherited home?
Yes, if you want to remain in the inherited home and the other siblings agree to this arrangement, then you can buy them out. This allows the siblings that don’t want to keep the inherited property a chance to sell their share and release the funds.
However, you cannot force your siblings to sell their share of the inherited property, except where a court order has been issued.
How to buy out siblings on inherited property
Find out sibling share
When determining how much you should pay to your siblings to buy them out, you will need to find out their share of the inherited property. If they’re joint tenants, which is the most common ownership arrangement for inheriting property, every tenant will have equal rights to the property.
Tenants in common, on the other hand, can hold a different share of the property. The higher the share of the property, the more you’ll need to pay to buy them out.
Agree on a price
Following the valuation of the inherited property and an understanding of the share each sibling has in the property, you should be able to agree a fair price. Solicitor-supported mediation and negotiation can make this process quicker, easier, and more amicable.
Contact the Land Registry
Once you’ve agreed on a price and have the available funds to purchase your sibling’s share in the inherited property, you will need to fill out and submit the relevant documents with signatures of the siblings to the Land Registry.
With this application, you will also need to send the Land Registry the grant of probate and, if necessary, a fee. Seeking support from a solicitor with this application can ensure it’s filled out properly and the registered property owner name is changed.
Struggling to buy out your siblings?
If you’re considering buying out a sibling’s share of an inherited house in the UK, the legal experts at Freeman Jones Solicitors may be able to help.
Our team of inheritance solicitors has years of experience helping individuals across the North West of the UK to understand their inheritance rights and resolve a variety of inheritance disputes.
We adopt a particularly sensitive approach to handling inheritance disputes between siblings as we understand the toll that family disagreements can take on individuals – especially during the often emotional and stressful period following the death of a family member.
To learn more about our mediation and negotiation services or to schedule your free, 20-minute, no-obligation consultation with a member of our team, simply contact us today.
Alongside reaching out using our online contact form, you can also get in touch by calling 01244 506 444 or emailing your enquiry to info@fjsolicitors.co.uk.
Alternatively, you can always discuss your needs in person by paying a visit to your closest Freeman Jones Solicitors branch – we have offices in Chester, Liverpool, Warrington, and Wrexham.
