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Using parent's money to buy house that she will live in
Comments
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I agree with this.Is there any reason why you, your mother and your husband should not own the new house as tenants-in -common according to the amounts you are each putting into the property?
If money is coming from the 3 of you, and you all 3 intend to live there, then you should own jointly. This can be done either as Tenants in Common or as Beneficial Joint Tenants.
http://www.landregistry.gov.uk/public/guides/public-guide-18
The only issue might be raising a mortgage jointly depending on your mother's age.0 -
Is there not a reservation of benefits issue? It's not a straight forward 'gift' if the money is then used as a deposit on a house in which she then lives rent free. Would the 'gift' and the purchase of the house not be seen as linked transactions? I think this may be more complicated that at first sight.0
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