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    teenasmum's Avatar
    teenasmum Posts: 4, Reputation: 1
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    #1

    Jan 3, 2009, 07:40 AM
    Inheritance of mums house
    My mums home is paid for when she dies the house is divided between me and my sister we are looking to receive bt 75,000 each but I want to release 40,000 of my money is this possible
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
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    #2

    Jan 3, 2009, 07:48 AM

    I don't understand what you are asking. What do you mean by "release 40,000 of [your] money."
    teenasmum's Avatar
    teenasmum Posts: 4, Reputation: 1
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    #3

    Jan 3, 2009, 07:53 AM
    I want to take 40,000 out of the house and give 20,000 to my mum as she is still working because she has to not because she wants to, but we don't want to sell the house as my mum obviously needs to still live in it I just want to give her some financial help but I'm not in a position to do this any other way... mum is 78 I want to know how or if I can do this...
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
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    #4

    Jan 3, 2009, 08:53 AM
    Quote Originally Posted by teenasmum View Post
    i want to take 40,000 out of the house and give 20,000 to my mum as she is still working because she has to not coz she wants to, but we dont want to sell the house as my mum obviously needs to still live in it i just want to give her some financial help but im not in a position to do this any other way ... mum is 78 i want to know how or if i can do this....

    Who legally owns the house now?
    Curlyben's Avatar
    Curlyben Posts: 18,514, Reputation: 1860
    BossMan
    		  
    #5

    Jan 3, 2009, 08:57 AM
    Errr hang on.
    If you mum is still alive then there is NO inheritance anyway.
    So you can't possibly release part of it.
    KISS's Avatar
    KISS Posts: 12,510, Reputation: 839
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    #6

    Jan 3, 2009, 09:30 AM

    She could reverse mortgage the house.
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
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    #7

    Jan 3, 2009, 10:55 AM
    Quote Originally Posted by KeepItSimpleStupid View Post
    She could reverse mortgage the house.


    That's why I asked who owns the property.
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