My feed
Premium

Please
or
to access all these features

Connect with other Mumsnetters here for step-parenting advice.

Step-parenting

mortgage and inheritance

11 replies

stella10 · 12/07/2013 14:17

What happens if u have a mortgage with someone who has children from previous relationship and something happens to one of u. I.e. Him!! They are grown up daughters but would they be entitled to anything or would I keep the house? It would be a joint mortgage in both our names

OP posts:
Report
stepmooster · 12/07/2013 16:06

you are not my dad's girlfriend are you??

I think it depends on whether you are tenants in common or if you jointly own the house. If latter, then if one of you dies the other person gets the house. If you are tenants in common you can leave your share to whoever you like.

Probably best to get some legal advice, my father and his girlfriend have gone down the tenants in common route, with the stipulation that the remaning spouse is entitled to remain in the property until they sell/death. So my father's share will be split 50/50 with my sister and I, and my stepmother will leave her share to her own children.

If you die intestate, I have not idea what happens, are you married?

Report
LIZS · 12/07/2013 16:10

Depends how the ownership is set up but if you were married it would pass to you if he left no will , otherwise it will go to next of kin.

Report
OddBoots · 12/07/2013 16:15

There are many variables but the most harmonious option would possibly be getting life insurance sufficient to allow the spouse to keep the house while the children still get the value of half of it.

Report
Eliza22 · 12/07/2013 16:39

We've made a will. If either of us dies, the other lives in the house until their death. Any monies are then divided 4 ways between his 3 and my ds.

This is fair as I put a quarter share in when I moved in. I feel that ds would only be getting "my bit" returned to him and I'm not taking any of the step kids inheritance, as it were.

Report
Crikeyblimey · 12/07/2013 16:43

Eliza - I know this song your thread but wouldn't a more fair split be that all 4 children get a quarter of your dh's half and your ds gets all of your half?? Presumably your dh's 3 other children will inherit from their mother??

Report
Crikeyblimey · 12/07/2013 16:44

Song??? That should say "isn't"!

Report
needaholidaynow · 12/07/2013 17:04

This reply has been deleted

Message withdrawn at poster's request.

eslteacher · 12/07/2013 19:36

I'm interested in this, as DP and I will buy a house together in the next few years, and he has a DS.

We are in France though, where inheritance is very regimented, its almost impossible to NOT leave assets to children as far as I understand, though am hazy on details.

If course I want DSS to eventually inherit all of DP's assets, but have a horrible vision of us buying a house together, DP pegging it, and me losing everything as too poor to buy out pre-teen DSS!

I'll have to do some research on this, definitely. Though in reality I don't think its worth getting TOO hung up on what may happen in the event of an improbable premature death.

Report
Eliza22 · 13/07/2013 09:28

Thing is Riverboat, whilst it's not great to have to envisage your early demise (or that of your partner), there are points to consider with step/combined families that "normal" families need not consider. I know, for a fact, that without having made this will, if DH died suddenly, my youngest SD would see me and my son out on the street.

On the other hand, if I suddenly die, my son (and only he) will receive my life insurance figure. It will not go to my DH and will therefore NOT be divided, on his eventual death, 4 ways.

Report
needaholidaynow · 13/07/2013 09:53

This reply has been deleted

Message withdrawn at poster's request.

Rindercella · 13/07/2013 10:14

Get wills sorted out everyone, please. I know an awful lot of widows and widowers, and some of them have been bitten so badly by not having had precisely this sort of thing legally covered by wills. To lose your partner is devastating, to then have to lose your home as well would be a double blow.

A lot of it is about trust too. In our wills, my late DH and I agreed that everything would go to the other, on the agreement that our children would then all benefit equally when we both died. He had one DS from a previous marriage and we had two DDs together. Since he died, I have redone my will so that my DSS inherits a third share of my assets (property), and my DDs will have a third share each too. But I also have ample life assurance, in trust, for my DDs.

I think Mumblechum on here is a highly recommended will writer. You really do need to think about all eventualities, especially when you are part of a blended family.

Report
Please create an account

To comment on this thread you need to create a Mumsnet account.