Parents renting to buy their house to us.. Complicated! Help!

Melpegz10

Thank you!

The house was mortgaged but is completely paid off now.

We can't buy our council house regardless, it's a local family housing type scheme which you can't buy, plus we wouldn't want to, it's to small.

I can't answer about the care home fees, we don't know anything about that situation. Grandparents who left the house to my in laws, one was very ill, she did something or other that made my in laws entitled to her stuff and then passed but granddad is still in the care home but to ill to do or say anything towards the housing. That is literally.ly all I know on that.

The only thing with the sister is that she will one day have to pay the interest that we don't but a regular income of the "rent" from us would go to her, either savings or to go on to basically pay her mortgage when she gets one.
She's 18 and still living with in laws not looking for her new place for a while.

The house is in mother and father in laws name and they want to keep it that way. I'm not 100% sure why but she does.

Anisel your just said many many of my worrys!

What's this "gifting" thing? I think there trying to avoid the inheritance tax, I THINK I could be wrong I just heard it mentioned?

Thanks so much!

Melpegz10

To add, as far as I'm aware the care home fees are being paid for, it was being paid for before she passed and I'm pretty sure when the things with the will were being done it was for father in law to take care of and x amount is aside for that.