OH inheriting house
Comments
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I think the best solution would be for both OP and OH to own an equal 50/50 share (either as tenants in common or joint tenants) of the property. I think they could do one of the following:
OH could gift 50% of the property to OP (a big ask).
OP could buy 50% of the property from OH but would need £190k to do so.
OP and OH could take out a joint mortgage (it would almost certainly have to be a joint mortgage) of £190k (or £170k if OP uses £20k of his savings). OH would keep the money, OP could commit to paying the mortgage, attempting to pay it off as quickly as possible. OH would be liable for the mortgage repayments if OP were to stop paying.0 -
ViktorOnopko wrote: »OH raised it with me rather than vice versa in a "What could we do to give you some ownership of this house?".
Was she playing a Beyonce record in the background when she asked you that question?
If you don't want to be a lodger then you will need to raise a mortgage of £190k to buy half the house off her. This will give her £190k in cash which she will have to do something with (or £155k after paying off the mortgage) but if you insist on living as two separate people then that would be her problem.
Anything else is a partial solution. If you use your savings to buy £35,000 worth of furniture you are still only 16% of the way towards having equal ownership (owning an interest worth £35,000 in what is now a £415,000 house).
On the other hand if having a small minority share in the house is enough to allow you to not "feel like a lodger", then give her two twenty pound notes for a 0.01% share.0 -
Buy 1/2 the house, she could even be your lender, she had enough cash.
You come up with a reasonable payment plan, that still allows you to contribute 50:50 to the refurb work.0 -
buy part of the house, either 35K worth, or 190K worth. Period.
Or just get married for crissakes0 -
Are you together or not?
Life is simple, people complicate it.Personal Responsibility - Sad but True
Sometimes.... I am like a dog with a bone0 -
Just need to follow the advice of the wurzels.0
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Never mix business with pleasure because if the realtionship fails, it will be everyman for himself.
Here is a good spoonful of TOLATA...
http://www.dailymail.co.uk/news/article-4857640/Therapist-ordered-fiancee-half-family-home.htmlFeudal Britain needs land reform. 70% of the land is "owned" by 1 % of the population and at least 50% is unregistered (inherited by landed gentry). Thats why your slave box costs so much..0 -
Post 2.
Tenants - in - common. Comprehensive Deed of Trust. Sorted?0
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