Houses - confusion

PixiePie

Hiya,

This isn't my personal situation, but I am nosey and read other threads and have noticed two distinct things where houses come into BR that seems to be a common ask, with the overall question being 'can they take the house'.

Now whilst it doesn't apply to me I was wondering if anyone could clear it up for me and for anyone else who it might apply to and be wondering but is too shy/scared to post.

If you live somewhere you either
a)pay rent
b)have a morgage/own outright (for the purposes of this I think these can go together)
c)are there by invitation but pay no money towards keep/rent etc
(or d) squat, but I don't think that comes into this really )

There have been people on here talking about Beneficial Interest and the house/flat they are living in therefore possibly being part of their own assests, sooooo, my query is - when does BI start, and under what catagory/ies?
Thank you in advance if anyone knows about this sort of thing, just thought it may help some, and satisfy my curiosity.

fermi

Yep. Very good question. It's one I've been wondering about.

My guess would be that it all depends on the size of the contributions, the period they were made over, and what they were intended for.

I would think the Trustee/OR would only consider any BI to be worth claiming, if the payments were significant, for a sustained period and allowed the recipient to make contributions (or additional ones) too either the mortgage or purchase price of the property.

This is all guesswork, but I have seen no hard and fast rules anywhere, which leads me to suspect that it is normally down to the judgement of the OR/Trustee.

I hope someone else has more definite info.

PixiePie

After all the excitement (or not...) today, this kind of slid down. Bump

gettingitsorted

From my own personal experiance

our house is in my husbands name only ,when i went BR we had only been in our house 6 months ,so i was told that due to the short amount of time that we had lived here that i had no BI in the property but if we had been here for over a year then it would have been different this came from my OR .