Shared Ownership of Property - Who is financially responsible for upkeep?

Susan_Frost

I must admit I think mum should pay for the repairs.

Yes, it is partly your house, but no you do not get rent from her (& not from anyone else either) nor are you selling it to receive the capital. So, I do think you are contributing in a way.

Normally, I guess the house would increase in value, but in the present climate, it will be devaluing.

Everyone sounds caring about each other here, and it is a pity money does have to come into it, but sometimes it does.

Repairs in exchange for rent/capital seems fair enough.

stas4949

Personally I think your mum should pay for any upkeep...... afterall she is benefiting from it at the moment whereas you and your sister aren't.....

[Deleted User]

Rikki wrote: »

Both your Mum and Step Dad are living mortgage free and they have a loving relationship going by what you say.

Look at this from another angle in his defence. He is married to a women he loves and if anything ever happened to her he has nothing left, no wife and no home. He has no where to live and could be homeless without capital. This is unless you allow him to continue to live there and then I expect you would charge him rent.

In some ways is he giving up more for love?

Slightly off topic but I'm a romantic at heart.

Thanks Rikki, I agree you are slightly off topic.

However, not that this is the point of my thread - he is a grown man in his late 60's and has his own property (which he lived in prior to moving in with my mum), which he still owns (and believe it or not his mother lives in, in her 90's!).

My sister and I are reasonable people and would give him time to sort his affairs out and move should my mother die, but to be honest, we don't "owe" him anything, least of all a roof over his head - sorry if that sounds harsh, but we've known this man for about 4 years.

[Deleted User]

Thanks Susan Frost and Stas4949 - what you have said matches my thinking, but sometimes you can be too close to a situation so I wanted to hear other peoples views/advice.

.

Rikki

goochie wrote: »

Thanks Rikki, I agree you are slightly off topic.

However, not that this is the point of my thread - he is a grown man in his late 60's and has his own property (which he lived in prior to moving in with my mum), which he still owns (and believe it or not his mother lives in, in her 90's!).

My sister and I are reasonable people and would give him time to sort his affairs out and move should my mother die, but to be honest, we don't "owe" him anything, least of all a roof over his head - sorry if that sounds harsh, but we've known this man for about 4 years.

You sound like a great family with concern for one another. I hope you can talk it through and sort things out to suit everybody.

Errata

Goochie, it doesn't sound harsh it sounds very reasonable. Your mum's MIL can live rent free because your mum's OH is living rent free. A rapid exit by him when the time comes is common courtesy.

Mojisola

If something major and structural needs doing, you might all need to put something into the pot - it will protect your investment - but must be a joint decision before work is started. Carpets and decoration are your mother's choice - if she can afford them, she can do it.

[Deleted User]

Mojisola wrote: »

If something major and structural needs doing, you might all need to put something into the pot - it will protect your investment - but must be a joint decision before work is started. Carpets and decoration are your mother's choice - if she can afford them, she can do it.

Thanks for your advice, I think this is the "basis" we should all work on. :beer:

[Deleted User]

Errata wrote: »

Goochie, it doesn't sound harsh it sounds very reasonable. Your mum's MIL can live rent free because your mum's OH is living rent free. A rapid exit by him when the time comes is common courtesy.

Thanks, mum thought it would be fair for him to live in the house for up to 2 years following her death - but my sister and I disagreed (based on the fact he does have somewhere else to live), so she did amend this in her will. Mind you there is so much stuff in the house it would could take my sister and I that long to go through it all.

Paparika

I think...

If the house was sold you would expect your 25%, but if work needs to be done they you should expect to pay 25% of the costs.


or you could say if/when the house is sold, have your 25% less any money that you would of paid for maintenance etc