Thanks for your response
I should point out that she should have paid you rent - as she continued to benefit from a property that was no longer legally hers - so she should have paid pre owned asset tax OR rent
So this should have been looked at by the solicitor that handled the estate as to whetehre this property should have been treated as a reservation with benefit
This being the case - in law - the property SHOULD have been included in the estate for Inheritance tax purposes, however if the value of this property and all your grandmothers other assets totaled less than £325,000 (and this can be extended if granddad has passed away and had left all his estate to grandmother)
However - this does NOT alter the fact that you deemed to have legally owned this property from 2004 and only you and your brother are legally obliged to manage how you take this forward regardless of what the will said as this is irrelevant from a tax point of view, but again I do urge you and your brother to take legal advsie re the wills wishes and the position in law regarding the property - but I am sure this is disregarded as your grandmother has no control
over a property she no longer legally owned.
But I would also take legal advsie as it may be that matters with your mother are to become a little tricky if you dont have legal backing of the position and what you could or cannot do!
Finally as you and your brother own this you could potentially make an election splitting the difference to be other than 50:50 ownership - however - as benefits are involved I would not recommend this, as as much of a terrible nuisance it will be for your brother with benefit entitlement - take the half share rent that you each then must declare to HMRC and at least then what benefits he gets are with the open declaration of his half share of the rental income - which will be a long term income and guaranteed unlike benefits !
let me know if I can assist furtehr, but if you have all that you need - then it would be appreciated if you could rate me for the level of service I have provided - or click accept