Hello, my father passed away late last year and only now is Probate almost complete (I would expect within 2-3 weeks). He has had a mortgage on the family home since 1980 which was originally taken out to support his partnership family farm between himself and his cousin. The farm had been paying the mortgage each month as it was the farms debt but since my father has passed away, his cousin/ the farm has ceased paying the mortgage and are refusing to pay. My fathers involvement in the partnership was dissolved after ill health for two years and he took out a life insurance policy to cover the mortgage should he pass away so that the family were not liable. However, I still believe that the debt is directly related to the farm and therefore regardless of this life insurance, that they should pay the remaining balance of the mortgage. I appreciate I may only feel this way because my dads cousin isn't exactly popular within the family but I still feel that there may be a case to be made. There were family murmurs of an 'gentlemens agreement' having been made but my dads cousin isn't the kind of person who is likely to honour this agreement unless we can find something in writing which at the moment is unlikely. Do we have a case? Thank you for your help.
Hi Joshua, thank you for your reply.
The mortgage was taken out whilst my father was a partner in the farm yes. The partnership, from what I understand, was dissolved fully as it was only owned by my father and his cousin and therefore wasn't able to continue as only one owner? However, I believe it still trades under the same legal name - whether this makes a difference I am not sure. In terms of debt, I can verify with the family accountant if there were any formal (written) agreements on my father being removed of responsibility for debts (if this is what you are asking) although I believe that this is not present and as previously mentioned, my family believe that it was this reason why my father signed the forms to dissolve the partnership in the last few months of his life so that the family again would be protected should anything have happened to him. I have not been able to arrange a meeting with his accountant to date, but also before stirring up this intention of pursuing my fathers cousin, I wanted to clarify the possible position my family were in because both the accountant and solicitor of my father are also the farms/ my fathers cousins too.
Thank you for your help.