Bought Aunties House

trackerboy_69

needahome wrote: »

no you havnt, you got around 50% of the house value from the tax payer, that is housing stock that needs to be replaced at some point by the tax payer.

out of interest, why are suddenly wanting to do this, when you have been happy for your aunt to live there rent free for the past few years.

anychance things are a bit tight at the moment, possibly from any other property transactions you have made, e.g. mewing,btl, lie to buy etc,etc

Very cynical ! No other property, as you said things are tight for everyone at the moment, i am just looking at my options the same as anyone else would do. If it can't be done then so be it.

needahome_2

trackerboy_69 wrote: »

. If it can't be done then so be it.

well actually there is something,you could do a richard hillman

trackerboy_69

needahome wrote: »

well actually there is something,you could do a richard hillman

Oh i never thought of that shall i get David Platt to give me a hand:rotfl:

needahome_2

trackerboy_69 wrote: »

Oh i never thought of that shall i get David Platt to give me a hand:rotfl:

well theres no need to cave her head in, you will have to get new carpets in.

as its winter and if your aunt is quite elderly, you could pop round and turn her heating off.

Bogof_Babe

Surely *you* didn't have the right to buy, as you weren't living in the council house. So effectively you gave your aunt a cash gift, with which *she* bought the house. The deeds went directly from the council to your aunt, so legally it has never been your property. If you start trying to take ownership of it now I think questions would be raised about the legality of the original purchase.

trackerboy_69

Bogof_Babe wrote: »

Surely *you* didn't have the right to buy, as you weren't living in the council house. So effectively you gave your aunt a cash gift, with which *she* bought the house. The deeds went directly from the council to your aunt, so legally it has never been your property. If you start trying to take ownership of it now I think questions would be raised about the legality of the original purchase.

I have a deed of trust set up with my auntie through a solicitor saying i provided the funds for the property .

Bogof_Babe

That is a private arrangement between yourself and your aunt though, and would not have been known of or approved by the council. I still think you are on dodgy ground re. the original purchase. Did the solicitor who drew up the deed of trust know that it was a "right to buy" purchase?

silvercar

You bought your aunties home with a discount and pressumeably gave her the right to live in it rent free. So you gained a property below market value and she gained a rent free home. [RTB + DoT]

Now you want to charge her rent, but only if the taxpayer pays it?

gauly

" in case anything happened to her or she became ill and had to go into care they couldnt use the house as income"

I'm pretty sure this isn't going to work. The house belongs to your aunt, not to you (it has to under the council's RTB scheme). That means that she can't just sign a piece of paper saying ' .. er, actually I don't want to pay care home fees, I'm going to give my money to my nephew/niece instead.' Everyone would do that otherwise!

On other threads it has been pointed out to people that one risk of buying their relative's council house for them is that it could be sold and used to pay care home fees and they won't see a penny. Obviously most people here aren't lawyers, but it does seem quite likely. Are you sure you got good legal advice when you bought the house?

needahome_2

Bogof_Babe wrote: »

That is a private arrangement between yourself and your aunt though, and would not have been known of or approved by the council. I still think you are on dodgy ground re. the original purchase. Did the solicitor who drew up the deed of trust know that it was a "right to buy" purchase?

i dont think there is anything wrong with the arrangement, i looked into doing it myself a few years ago with my mum and was told that it was ok, i would have actually had a mortgage on the place in my name if i remember correctly.

OP mentions he bought the place a few years ago, would by anychance the period in which you cant sell without having to pay some of the discount now be over ? and now as hence you (well your aunt) owns the property outright you now think you are entitled to an income from it ?

as i said eniquired about doing this myself a few years ago, and im sure its perfectly legit, however there is no free lunch as they say. in return from benefitting from the discount when your aunt pops her clogs, you have to accept your money is tied up without any income from it till that day arrives.

you cant have your cake and eat it.