Help with my half of a house !!!!!

BigAunty

Lipsy1982 wrote: »

Yep your right , I would love to force the sale but even thou there horrible I'm not really that horrible if I sell that house that my nan has lived in for 40 years and she has a heart attack or something similar I will never forgive myself but if the house is still there when nan is not the auntie is out .

How much have you actually spent on the property over those couple of years? Did you pay towards a deposit and legal fees or was it a 100% mortgage

Go and get legal advice now to understand the position and your options for the sad day between now and perhaps 35 or more years in the future when your nan passes.

You need to know now how you can see a return on the outlay you've spent and the likely chances of you being able to force the sale in a property that you have never lived in, that you have barely paid towards and which is occupied by a disabled or vulnerable dependent of your aunty (her son with autism).

A verbal agreement about you getting 50% of the equity is worthless. I do wonder the likely legal outcome when your aunty shows in a court of law in the future that she's paid the majority of the mortgage - perhaps a judge will give her 99% of the value in the event of a sale.

I'm starting to think that your aunty basically tricked you into taking out the joint mortgage because that's the only way they could buy the property, that she knows that you may have a very weak case in realising any equity, that you have a very low chance of forcing a sale.

She probably only wanted you for the paperwork to get her mums house on the cheap and you subsidising the mortgage by half. She has now got the hump since you realised you are being exploited and are unwilling to pay tens of thousands of pounds across the 25 year term of the mortgage for a property where you are not welcome to live and where you are unlikely to get much of a return if at all, on your investment.

Perhaps this is why she is throwing her teddy out of the cot by witholding the mortgage payment, what she sees as your share of it on principle - she's trying to bring you to heal as you've been such a soft touch and so obliging to date and so she is scaring you about making your poor old nanna homeless when in fact, this is something that she is manipulating to happen as she clearly has the means to pay.

BigAunty

Lipsy1982 wrote: »

Haha I like the bag trick I might just move my nan's crazy son I'm my uncle they would so sell haha . I couldn't live there not with them two.

You have the right to live there - I'm not sure you have the right to send other people in, though you need to check this. Clearly the two of them never wanted you to live there anyway, they just wanted you for your income.

Lipsy1982 wrote: »

..

Have you heard of a equatable charge for the property someone said to me earlier that I can put that on and that it guarantees me my 50% ???

I think in the event of property disputes, some people register their interest on the deeds at the land registry. Other posters will tell you how this operates. Not sure if you have this option, since you are already on the deeds as an owner but other posters can clarify if this is an option.

However, the time for having a legal document that promises you the 50% equity would have been prior to purchasing the property, a deed drawn up by a solictor. A verbal agreement is worth the paper its written on!

You seem really hung up about this verbal 50% of equity promise (which may actually be very hard for you to enforce in reality) because you can't prove this was the case, have paid very little towards the property and have not lived in it and because your aunty will probably live in the property for the rest of her natural life!

Take legal advice on whether you will ever see a penny of this equity.

Lipsy1982

Your spot on there my mum and uncle said that they used me so that Tina the auntie could once again get everything and my mum and uncle who have always struggled in life got naff all not even a dinner and the auntie has had everything , she's a half sister to my
Mum and uncle . She had a shop a lost it , off shore accounts her father is sceaming and nasty and has himself a 4 bed house that Tina will acquire very soon - no mortgage . All call them greedy and I will stop it somehow .

Lipsy1982

BigAunty wrote: »

How much have you actually spent on the property over those couple of years? Did you pay towards a deposit and legal fees or was it a 100% mortgage

Go and get legal advice now to understand the position and your options for the sad day between now and perhaps 35 or more years in the future when your nan passes.

You need to know now how you can see a return on the outlay you've spent and the likely chances of you being able to force the sale in a property that you have never lived in, that you have barely paid towards and which is occupied by a disabled or vulnerable dependent of your aunty (her son with autism).

A verbal agreement about you getting 50% of the equity is worthless. I do wonder the likely legal outcome when your aunty shows in a court of law in the future that she's paid the majority of the mortgage - perhaps a judge will give her 99% of the value in the event of a sale.

I'm starting to think that your aunty basically tricked you into taking out the joint mortgage because that's the only way they could buy the property, that she knows that you may have a very weak case in realising any equity, that you have a very low chance of forcing a sale.

She probably only wanted you for the paperwork to get her mums house on the cheap and you subsidising the mortgage by half. She has now got the hump since you realised you are being exploited and are unwilling to pay tens of thousands of pounds across the 25 year term of the mortgage for a property where you are not welcome to live and where you are unlikely to get much of a return if at all, on your investment.

Perhaps this is why she is throwing her teddy out of the cot by witholding the mortgage payment, what she sees as your share of it on principle - she's trying to bring you to heal as you've been such a soft touch and so obliging to date and so she is scaring you about making your poor old nanna homeless when in fact, this is something that she is manipulating to happen as she clearly has the means to pay.

And the 50% is not verbal I remember that bit caus she tried to get more percentage and the solicitor said no basically not for the reasons she wanted so it is equal joint at half and half

Lipsy1982

BigAunty wrote: »

You have the right to live there - I'm not sure you have the right to send other people in, though you need to check this. Clearly the two of them never wanted you to live there anyway, they just wanted you for your income.



I think in the event of property disputes, some people register their interest on the deeds at the land registry. Other posters will tell you how this operates. Not sure if you have this option, since you are already on the deeds as an owner but other posters can clarify if this is an option.

However, the time for having a legal document that promises you the 50% equity would have been prior to purchasing the property, a deed drawn up by a solictor. A verbal agreement is worth the paper its written on!

You seem really hung up about this verbal 50% of equity promise (which may actually be very hard for you to enforce in reality) because you can't prove this was the case, have paid very little towards the property and have not lived in it and because your aunty will probably live in the property for the rest of her natural life!

Take legal advice on whether you will ever see a penny of this equity.

Yes I understand that bit one thing I do know is when you purchase a house what ever money you made ie on that day is your profit and they shouldn't be able to take that away from me I bought the house under market value and instantly had profit when papers went through.

BigAunty

Lipsy1982 wrote: »

...
No my nan bought the house back in 1984 off the council and had bought her x husband out , not sure when and she just had 10k left as she hit retirement and couldn't then afford the house so we bought it off her freehold.

..

I'm sorry, I thought she was 10k in debt.

Are you saying that she had a tiny mortgage of just 10k remaining with a decent pension(s) round the corner? And this has now ballooned into a mortgage of 110k (now higher due to arrears) and a 19k loan secured on the house?

That 29 years after the council house was bought under the right to buy scheme, and many years after the typical length of a mortgage, there is now £129k owing on it instead of it being fully paid off years ago!! That the sum owed on it is many multiples of its original value nearly 3 decades ago?

For the love of god, why didn't someone just lend her the 10k to pay it off completely until her pension come through or her speak to her mortgage lender for a repayment holiday. Her daughter has a good paying job!

I cannot believe that she only had buttons to pay on her lifetime property and somehow this has led to debts, shot credit records, family disputes and possibly the loss of your nan's lifetime home!!

Lipsy1982

BigAunty wrote: »

I'm sorry, I thought she was 10k in debt.

Are you saying that she had a tiny mortgage of just 10k remaining with a decent pension(s) round the corner? And this has now ballooned into a mortgage of 110k (now higher due to arrears) and a 19k loan secured on the house?

That 29 years after the council house was bought under the right to buy scheme, and many years after the typical length of a mortgage, there is now £129k owing on it instead of it being fully paid off years ago!! That the sum owed on it is many multiples of its original value nearly 3 decades ago?

For the love of god, why didn't someone just lend her the 10k to pay it off completely until her pension come through or her speak to her mortgage lender for a repayment holiday. Her daughter has a good paying job!

I cannot believe that she only had buttons to pay on her lifetime property and somehow this has led to debts, shot credit records, family disputes and possibly the loss of your nan's lifetime home!!

Yes sort of but she don't have any debt it's all In my name and Tina's name she just lives rent free but still probably suffering stress of being kicked out.

It was all a way to give all her money to Tina without my
Mum kicking off and uncle . So I got used when trying to help basically .

BigAunty

Lipsy1982 wrote: »

Your spot on there my mum and uncle said that they used me so that xxx the auntie could once again get everything and my mum and uncle who have always struggled in life got naff all not even a dinner and the auntie has had everything , she's a half sister to my
Mum and uncle . She had a shop a lost it , off shore accounts her father is sceaming and nasty and has himself a 4 bed house that xxx will acquire very soon - no mortgage . All call them greedy and I will stop it somehow .

OP - I would go through your original post and delete all references, such as her name, that may identify her - you don't want this stuff in the public domain.

For your sake, I would wait a few months after she has got ownership of her father's property as it takes some time for the deeds to be updated at the land registry, then get copies of the deeds when its in her name. Ask your solicitor if it will bolster your case if you seek to force the sale of the property through the courts - this could stop a potential defence that she needs to remain in the family home to bring up her vulnerable son since she has a second property.

Lipsy1982

BigAunty wrote: »

OP - I would go through your original post and delete all references, such as her name, that may identify her - you don't want this stuff in the public domain.

For your sake, I would wait a few months after she has got ownership of her father's property as it takes some time for the deeds to be updated at the land registry, then get copies of the deeds when its in her name. Ask your solicitor if it will bolster your case if you seek to force the sale of the property through the courts - this could stop a potential defence that she needs to remain in the family home to bring up her vulnerable son since she has a second property.

Good idea Anyway I'm off now I have work at 6 am
Speak to you Tom . Thanks

BigAunty

Lipsy1982 wrote: »

...

It was all a way to give all her money to xxx without my
Mum kicking off and uncle . So I got used when trying to help basically .

Erm, so you helped to screw your mum by facilitating the transfer of ownership and a lump sum to your aunty....? Blimey, you are really pliable, aren't you?

I expect that another factor, given how conniving and greedy your family is, is that your nan or aunt were aware that if your nan needs means tested care, such as a care home or home help, the local council expect homeowners to sell their property to fund it, the council puts a charge on their house.

So I think your aunt (perhaps your nan, too, if she was aware of this) would have wanted to thwart this by having ownership transferred while she was still alive. Perhaps it was also to sidestep inheritance tax but I'm weak on that subject.

However, it has the potential to backfire because a local council who receives a request for a care home or home care services can investigate whether or not the claimant once had capital (owned a house) and if they have deliberately deprived themselves of it in order to qualify for means tested benefits/services, the council can take some action around this. What action, I don't know.

To understand about deprivation of capital for elderly home owners, look at the Age UK site. This will help you determine whether or not you can get back at your aunty (without harming your nan) by reporting this to the local council in future if your nan goes into a care home, for example. I don't know what the council or care homes do when they find out that someone who once owned a property worth £200k or more presents themselves as a pauper! Perhaps another poster can tell you what happens or if this will be counterproductive because only your nan gets affected instead of your aunt, for example.

The law on capital and elderly care is changing at the moment - new rules. So check those out, too.