Desposit as part owner - advice

Senior_Paper_Monitor

Pammy,


My comments were aimed at the daft spammer not yourselves - I appreciate your position and objectives.


Find yourselves an experienced broker - I suggest not a large chain operation or an estate agent waller, but someone with some good years of experience in complex cases, and I am sure they can guide you through this complicated set of circumstances and find you a suitable and secure plan.


Frankly internet forums are not the location for addressing such queries.

Brgds SPM

Pammy

Senior_Paper_Monitor wrote: »

Pammy,


My comments were aimed at the daft spammer not yourselves - I appreciate your position and objectives.


Find yourselves an experienced broker - I suggest not a large chain operation or an estate agent waller, but someone with some good years of experience in complex cases, and I am sure they can guide you through this complicated set of circumstances and find you a suitable and secure plan.


Frankly internet forums are not the location for addressing such queries.

Brgds SPM

Thank you. I appreciate the advice, I will try and find a broker and get some assistance.

The situation is complex and it's keeping me awake at night so thanks for taking the time to reply.

Eviesmummy

Do you have POA for your Mum?

My parents are ina similar position, they have my grandmother at home with them but the house isn't big enough to have some of the fcilities she needs, but can't afford a bigger property without using some of Nan's money to do it. Mum has POA for my Nan. They are going ahead with the purchase with the deeds in my mum and dads names but a solicitor drawn something up to note nans investment, but would mean that should her condition become unmanageable at home they wouldn't take that money into account for care home fees.
While they are hoping that she waould never need care Nan would still have plenty in savings put aside to pay for it if she ever did.
What my mum was concerned about was that if she was to die before nan then my nan was to die by rights a third of the new property would come to myself and my siblings, which could mean that my dad would have to sell up to give the inheritance. very unlikely, and not that we'd ever put Dad out, but this covers for that as well.

Sory that ws a bit long and complicated, but just to show that it is something you can do, but you'd need to speak to a solicitor.

Pammy

Eviesmummy wrote: »

Do you have POA for your Mum?

My parents are ina similar position, they have my grandmother at home with them but the house isn't big enough to have some of the fcilities she needs, but can't afford a bigger property without using some of Nan's money to do it. Mum has POA for my Nan. They are going ahead with the purchase with the deeds in my mum and dads names but a solicitor drawn something up to note nans investment, but would mean that should her condition become unmanageable at home they wouldn't take that money into account for care home fees.
While they are hoping that she waould never need care Nan would still have plenty in savings put aside to pay for it if she ever did.
What my mum was concerned about was that if she was to die before nan then my nan was to die by rights a third of the new property would come to myself and my siblings, which could mean that my dad would have to sell up to give the inheritance. very unlikely, and not that we'd ever put Dad out, but this covers for that as well.

Sory that ws a bit long and complicated, but just to show that it is something you can do, but you'd need to speak to a solicitor.

Oh thank you. That is really helpful. The POA is next on the list but mum is able to make decisions right now and the POA would only come into play when she can't make an informed choice.

Sorry to hear your family is also going through this, it's really stressful - emotionally and economically

dimbo61

Oh thank you. That is really helpful. The POA is next on the list but mum is able to make decisions right now and the POA would only come into play when she can't make an informed choice.

Think you need to get this sorted while Your Mum is still of sound mind and body!

Pammy

dimbo61 wrote: »

Think you need to get this sorted while Your Mum is still of sound mind and body!

Yes absolutely. It feels like a ticking clock hence the urgency.

Yorkie1

I agree that the paperwork for the POA needs to be sorted out now, while your mum still has sufficient mental capacity to do it. It only becomes activated at a later date - but getting it sorted out now is a higher priority than anything else.