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offspring again
smudger1946
Posts: 645 Forumite
Hi, All,
I posted query some weeks ago, been unable to see any replies as P.C done a bunk, back online now and have re-post posted query.
Many thanks in advance Smudger.
Need some advice please.
My daughter and partner bought a property a few years, not being able to get a mortgage between them, her partners mother lent them the money by borrowing against her own home.
Between them they made up a contract (not done through any legal body), they all agreed to pay a monthly amount into the mothers bank account, if they wanted to go there own way the property is to be sold and pay off the debt and any profit to be shared between the two partners.
All three agreed and signed up to this effect and it was witnessed by someone
The upshot of the story is, they are to split up and put property up for sale, if it all turns nasty, which these things normally do, what rights and wrong does this contract carry?
The typed up contract is very vague!
Hope the above makes sense!
I thought the mother was foolish or very kind, she is 70+
Many thanks smudger PS. Since above post the mother has asked my daughter to move out and all of her belongings as it will make it easier to sell, but to keep paying her monthly payments.
I posted query some weeks ago, been unable to see any replies as P.C done a bunk, back online now and have re-post posted query.
Many thanks in advance Smudger.
Need some advice please.
My daughter and partner bought a property a few years, not being able to get a mortgage between them, her partners mother lent them the money by borrowing against her own home.
Between them they made up a contract (not done through any legal body), they all agreed to pay a monthly amount into the mothers bank account, if they wanted to go there own way the property is to be sold and pay off the debt and any profit to be shared between the two partners.
All three agreed and signed up to this effect and it was witnessed by someone
The upshot of the story is, they are to split up and put property up for sale, if it all turns nasty, which these things normally do, what rights and wrong does this contract carry?
The typed up contract is very vague!
Hope the above makes sense!
I thought the mother was foolish or very kind, she is 70+
Many thanks smudger PS. Since above post the mother has asked my daughter to move out and all of her belongings as it will make it easier to sell, but to keep paying her monthly payments.
0
Comments
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Previous threads here:
http://forums.moneysavingexpert.com/showthread.html?t=2155453
http://forums.moneysavingexpert.com/showthread.html?t=2203581Declutterbug-in-progress.⭐️⭐️⭐️ ⭐️⭐️0 -
Daughter's been to CAB they say the contract is laughable, no credability at all.
Daughter has to give a weeks notice and walk away, with no debt.
Job done, i think.
Many thanks Smudger0
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