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is he a landlord?
NowRetired
Posts: 366 Forumite
My brother has been recently widowed and has decided that his present 3 bed house, no mortgage, is too big for him and is going to move in with me.
My house has a "grandad flat"
My brother also has enough income to rent privately if needs be.
His son, who will inherit this 3 bed house and everything else, he is an only child, presently lives with his wife and teenage children in a rented property.
My brother has suggested to his son and daughter in law that they move into the house and transfer all the utility bills and council tax into their name and basically live there rent free until such time as they inherit the house.
Does this make my brother a landlord?
My house has a "grandad flat"
My brother also has enough income to rent privately if needs be.
His son, who will inherit this 3 bed house and everything else, he is an only child, presently lives with his wife and teenage children in a rented property.
My brother has suggested to his son and daughter in law that they move into the house and transfer all the utility bills and council tax into their name and basically live there rent free until such time as they inherit the house.
Does this make my brother a landlord?
Getting forgetful, if you think I've asked this before I probably have. :rotfl:
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Comments
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Yes...in that he is responsible for the maintenance on the house and the gas safety certificates.:footie:
Regular savers earn 6% interest (HSBC, First Direct, M&S) Loans cost 2.9% per year (Nationwide) = FREE money. 0 -
Anyone who owns a property, does not live there themselves but allows others to live there instead, is technically a landlord. There is no guarantee that the family would inherit the house anyway, as if he needed residential care later on, the house would be taken as a saleable asset to fund such care.
Read the thread here today about renting from Grandparent, as the same rules apply.
https://forums.moneysavingexpert.com/discussion/44148450 -
Yes...in that he is responsible for the maintenance on the house and the gas safety certificates.
His son will maintain the house.
Does it need a gas safety certificate?
What happens if his son, wife and children move in with him and take over paying all the bills and then my brother decides to visit me for a holiday and never returns.Getting forgetful, if you think I've asked this before I probably have. :rotfl:0 -
if he needed residential care later on, the house would be taken as a saleable asset to fund such care
My sister-in-law had a very large insurance policy so if he did have to go into care the house would not need to be sold.Getting forgetful, if you think I've asked this before I probably have. :rotfl:0 -
NowRetired wrote: »His son will maintain the house.
Does it need a gas safety certificate?
What happens if his son, wife and children move in with him and take over paying all the bills and then my brother decides to visit me for a holiday and never returns.
Why on earth would he play such reckless games just to avoid getting a gas safety certificate? How does he plan to insure the house when he moves out?
He might even like to consider that protecting the safety of his son, DIL and grandchildren is worth the expenditure.
Childish madness!Free the dunston one next time too.0 -
Why doent the brother just gift the house to his son now? the OP implied it was going to be a rent free situation so why over complicate matters?0
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As your brother -in-law seems well provided for (and assuming he is currently healthy and cannot foresee needing state means tested benefits etc), could he not consider gifting the house to his son?0
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As your brother -in-law seems well provided for (and assuming he is currently healthy and cannot foresee needing state means tested benefits etc), could he not consider gifting the house to his son?
What would happen if NowRetired died or had to go into a care home?
His brother needs to plan for a range of possible futures and make sure he isn't left homeless in his later years.0 -
Why on earth would he play such reckless games just to avoid getting a gas safety certificate?
Why does a rented house need a gas safety certificate and an owner occupied house not?
so the minute my brother passes away and his son inherits the house there is no longer a need for a gas safety certificate.
What has changed?Why doesn't the brother just gift the house to his son now? the OP implied it was going to be a rent free situation so why over complicate matters?
Because none of this has been thought out yet, this is why I am asking questions.
my brother thought the simplest way would be for his son to move into his house, and he move in with me.Getting forgetful, if you think I've asked this before I probably have. :rotfl:0 -
Your brother also needs to think about your nephew pre deceasing him or divorcing wife and what happens then. Presumably he would want inheritance to go to his grandchildren rather than ex daughter in law and her new husband.0
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