Can my parents give me the house I have rented from them for the last 31 years?

jamie11

jumperabv3 wrote: »

Fair enough, then educate your child to participate in the house's expenses if he works, or something like that ... but drawing up a contract stating I'm your landlord, you have to pay me rent - that's absurd! It's your son, not a stranger!!!!!

You're wrong.
With the rules around housing and renting it makes a lot of sense to give your kid a proper contract, I've done that with my son for our 4 bedroom house and the rent is a commercial amount.

He has lodgers, easy to get rid of if needed, and the whole of their rent monthly covers the rent for my son. Effectively he's living rent free but within the rules. He does not claim any benefits and has a reasonably well paying job.

He makes sure the rent is paid and I see an investment that pays me a fair return. A win/win in my opinion.

By the way, I don't cut corners on my responsibility as his landlord either, all taxable income declared and the whole house covered with a BG 400 maintenance contract

Pixie5740

I think someone needs their morning coffee.

Who said anything about evicting their child because they get sick or can't pay their rent? In fact the OP never said anything about signing a tenancy agreement, just that he had been paying a "low monthly rent".

What does your culture teach about jumping to conclusions?

anselld

jumperabv3 wrote: »

There is a difference between:

1) Living in a property for free (okay for some, bad for others)
2) Paying your own share to your parents for living there (best option for me if I wanted my child to pay his own share into the household expenses)
3) Drafting a legal contract with your son (!!!!)

I guess it's about education, mentality, culture and other factors which make people in the UK do that ... in my culture this line of thought or consideration about doing something like that - doesn't exist.

You guys want to tell me if your son gets sick or can't pay the rent you're going to take him to court for breaking your contract?! That's just sick!

You are extrapolating wildly.

There is very little difference between (2) and agreeing a monthly rent to be paid which covers those expenses. It doesn't have to be contractual but even if it is, that doesnt make it absurd.

In any case the past arrangements are completely irrelevant to the question asked.

corbyboy

Also, to be fair, the parents are now giving him the house.

jumperabv3

jamie11 wrote: »

You're wrong.
With the rules around housing and renting it makes a lot of sense to give your kid a proper contract, I've done that with my son for our 4 bedroom house and the rent is a commercial amount.

He has lodgers, easy to get rid of if needed, and the whole of their rent monthly covers the rent for my son. Effectively he's living rent free but within the rules. He does not claim any benefits and has a reasonably well paying job.

He makes sure the rent is paid and I see an investment that pays me a fair return. A win/win in my opinion.

By the way, I don't cut corners on my responsibility as his landlord either, all taxable income declared and the whole house covered with a BG 400 maintenance contract

Well ... you don't live your life to accumulate things, do you? When we die our property, bank account doesn't come up with us to heaven, does it?
I think proper education is about understanding the purpose of giving life, especially of bringing children to this world ... of course we're currently living in one of the worse economic times in this planet, but between that and getting the "house covered" there is a huge gap.

Children are not there to pay up rent, they are to continue your generation, whether you like it or not, death is inevitable. Get them to be the next scientist / pilot / whatever they want to be instead of worrying about getting your "house covered" - that would be my approach anyway.

jumperabv3

corbyboy wrote: »

Also, to be fair, the parents are now giving him the house.

Of course, it's totally fair.
Give me 10,000 GBP in cash and I will give you my car for free.

:rotfl:

Millie_Millsters

jumperabv3 wrote: »

Now which parents, in the world, ask their son to pay rent?!?!?!?!

Sensible ones.

jumperabv3 wrote: »

(I'm married, no children yet:

0bviously... you'll learn

jumperabv3

Millie_Millsters wrote: »

Sensible ones.

0bviously... you'll learn

I like that one. :D

anselld

jumperabv3 wrote: »

I'm married, no children yet

.... perhaps it is a bit early to pontificate on the meaning of life then!

jackomdj

What if the OP's parents used their savings to buy the house. Without their savings they may not be able to afford the extras to make their lives comfortable. OP paying means the parents can afford to live a bit more comfortably.

Jumperabv3 in your culture would, in the above circumstances, it be better for the parents to be living a life where they can't afford things or preferable for the son to help make their lives better?

Back to OP... My friends parents did this. They bought a cheap house which my friend and her now hubby did up, they paid rent until they had affectively paid off the "loan" then the house was transferred to my friend.

Sorry not sure of the legal/ tax implications but it can be done. Probably best getting a free half hour at a solicitors to talk through what you want to do.