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Grandfather wants name on deeds ??????

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Comments

  • tilerone
    tilerone Posts: 6 Forumite
    Well spoken to a solicitor ..........
    I won't type here what he said as her language was quite choice ... hehehe
    She basica;ly confirmed what a few here have said, such as ....

    If he's on the deeds he has to be on mortage... (can't see that happening he's pushing 90 )

    His idea for a TAX reason is a load of rubbish.

    There are other ways he could protect the investment for his daughter without being on the deeds such as a "Declaration of trust".

    Arrange a legally binding contract over this house and gift to cover ourselves incase he turns nasty, and to make the gift/house nothing to do with his will (So changing his will in the future would make no difference, and the share would still come to us)... this would also stop him from placing other restriction/demands apon us or the property.

    Mainly the solicitor said....
    "DO NOT SIGN ANYTHING OVER TO HIM AT ALL. If he's truly trying to help you and care for his grandaughter he would not put her through all this with the demands for land etc. If he insists on land etc.... We should WALK AWAY"

    The confrontation with grandfather and grandaughter over this matter will happen over then next day or so. Fingers crossed, lets hope he proves us wrong about his possible ulterior motives and decides to give the gift in the way he first intended. :)
  • tilerone
    tilerone Posts: 6 Forumite
    :):):)
    The minute I posted the last reply my partner came home.
    ALL IS SORTED :)
    I won't go into what was said to and by Grandfather but the result is ......
    No name on deeds.
    No land signed over.
    No restrictions.
    His grandaughters interests/his financial investment is protected through a "Declaration of trust".

    :):):)

    Let just hope the Structural survey on the property comes back Ok now ... :)
    ALWAYS SOMETHING TILL YOU GET THE KEYS lol
  • Bufger
    Bufger Posts: 1,857 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker Debt-free and Proud!
    tilerone wrote: »
    :):):)
    The minute I posted the last reply my partner came home.
    ALL IS SORTED :)
    I won't go into what was said to and by Grandfather but the result is ......
    No name on deeds.
    No land signed over.
    No restrictions.
    His grandaughters interests/his financial investment is protected through a "Declaration of trust".

    :):):)

    Let just hope the Structural survey on the property comes back Ok now ... :)
    ALWAYS SOMETHING TILL YOU GET THE KEYS lol

    Excellent news. Im glad the members on here could give you some good advice.

    Fingers crossed for you then! :)
    MFW - <£90k
    All other debts cleared thanks to the knowledge gained from this wonderful website and its users!
  • tilerone
    tilerone Posts: 6 Forumite
    Yes thanks all. Helped to put my mind at ease till the solicitor did their thing :D.
  • mlz1413
    mlz1413 Posts: 3,068 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Glad it's all sorted out now.

    Just a thought as g/dad is only offering £35k could you not get a loan for that value and keep him out of the house completely?

    My friends husband's family sound very like your g/f g/dad, they offer everything and then change the goal posts, but they do it for life.... And having seen it's effects myself for the last 10 years I would highly recommend not involving family.
  • rsykes2000
    rsykes2000 Posts: 2,494 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    mlz1413 wrote: »
    Glad it's all sorted out now.

    Just a thought as g/dad is only offering £35k could you not get a loan for that value and keep him out of the house completely?

    'Only' 35K :)
    I suspect that she has little or no other deposit money so would need a 100% mortgage or thereabouts which is obviously very difficult if not impossible to get.
  • mlz1413
    mlz1413 Posts: 3,068 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    I meant 'only' as against the value of the house.

    Also in OP's first post his partner is getting the mortgage in her name only, so if he got the deposit in his name via a loan. I realise the cost of the loan would need spreading over a considerable number of years due to to its value, but that could be paid off early if they ever re-mortgaged together.

    Admittly they may have plans for credit in his name for improvements, its just a thought as I know my friends have ended up living in a house they refuse to do anything to because the family constantly threaten to take it from them - its not an enjoyable way to live.
  • poppysarah
    poppysarah Posts: 11,522 Forumite
    Borrowing money to pay the deposit is quite foolish imo.
    Save. Save and save some more.
  • Oldernotwiser
    Oldernotwiser Posts: 37,425 Forumite
    not_tonight_josephine wrote: »
    If the grandfather is named on the deeds as a joint owner of the property then I do not believe that your GF will be able to get a sole mortgage on the house - as I understand it all owners of a property must be on the mortgage, otherwise the lender cannot reposess in the event of a default (ie your girlfriend is only a part owner and the lender cannot reposess part of a house).

    Before we were married, my husband was a joint owner of our house but wasn't on the mortgage.
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