Prior to her passing, I lived with my mom in a granny flat with my wife and kids.
My mom made mention to my siblings that the house was for me if anything happened to her.
After she passed away without a will, we started to finalise the estate.
I was elected to be executor and after much debate, my siblings requested an amount to be paid to them in order for me to get the house.
I am willing to do this, but the house requires a lot of work to reside in.
I agreed to an AOD for the amount requested if they renounce their shares so I could apply for a home loan to pay them and refurbish the house.
One sibling has renounced and the other wants me to sign an irrevocable letter of understanding.
No bank will give me home loan or a guarantee if I don’t have a property.
I currently pay all rates, water and lights as well as the security for the main building.
What are my options?
Regards,
Sceptical Sibling
See what the experts have to say.
