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Advice please - house bought with mother all went horribly wrong.

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Comments

  • terryw
    terryw Posts: 4,396 Forumite
    Part of the Furniture 1,000 Posts Photogenic Combo Breaker
    sonastin wrote: »
    As she understands manipulation, threaten to tell the almshouse people about the finances unless she shares the profits. You decide later if you want to carry out that threat.

    In your shoes, I'd walk away and leave her to her lonely existence. You make your bed and all that...

    Agree absolutely with your second paragraph, but the first suggestion is perilously close to blackmail.
    "If you can bear to hear the truth you've spoken
    Twisted by knaves to make a trap for fools"
    Extract from "If" by Rudyard Kipling
  • suited-aces
    suited-aces Posts: 1,938 Forumite
    Tenth Anniversary 1,000 Posts Combo Breaker
    terryw wrote: »
    Agree absolutely with your second paragraph, but the first suggestion is perilously close to blackmail.
    Normally I'd be agreeing with you, but given what we'd been told, if it couldn't backfire on OP and be proven, I'd find it difficult to judge her. The ends would justify the means
    I'm not bad at golf, I just get better value for money when I take more shots!
  • hcb42
    hcb42 Posts: 5,962 Forumite
    edited 19 May 2011 at 7:05PM
    company didnt own house 3, i did with her deposit. she wouldnt let me take a salary insisting any income first went to pay mortgage. But then technically it would look like my salary on paper I suppose.

    You couldnt make this up about a mother could you?

    Sheesh what a tale. I have no idea on the legal position, I expect this isn't looking good and you can kiss any house profits goodbye.

    I don't understand this post though - you were a director, mother didn't let you take a salary as your "income" was paying the mortgage. No one, but a fool, has a mortgage payment = monthly salary, there are other bills. How on earth could you manage? I appreciate many business owners do not take a salary when getting a business off the ground, but not for this reason given.

    I wouldn't hold your breath on being left her £400K or whatever in the will. Although you might be able to contest the will at some stage in the future after her death, if she does cut you out, which sounds possible.

    I still don't understand why people get into complicated house buying agreements with anyone but their SO. Perhaps I am old fashioned ;)
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