We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
House Inheritance, Am I Entitled to Anything?
Comments
-
Your sister does not live in the property but took out a mortgage on it with a gifted deposit from your mother?
Was the mortgage company aware of the gifted deposit and that a relative would be living in the property?
Your sister has never paid any of the mortgage?
In effect, your mother has paid for/is paying for the house so is making a gift of it to your sister?
She cannot leave it in her will because she doesn't own it, your sister does?0 -
You're getting confused with failed relationships where people have been living together.
In this case, the mother is a tenant in her daughter's BtL property. No more, no less. It just happens that her rent is the same as the mortgage payments, and her tenancy is implied. Oh, and the mortgage lender are almost certainly unaware of the tenancy, so the borrower is in breach of their contract...
Very unlikely a court would look at it that way. Much more likely they will conclude that, by paying the mortgage, the mother has acquired an equitable interest in the property. Remember also that the mother transferred the deposit money to the daughter for the purpose of effecting the purchase. The whole situation screams "implied trust."
But, implied is bad. What if there is a falling out? I agree with posters above that, in the mother's interests, things should be formalised and put in writing.
I also agree that the daughter posting here isn't "entitled" to anything. What a word.0 -
Another post why money and family do not mix. It will not end well when there is conflict. Even though it's family, money matters more eventually."It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0 -
It also had tax implications. If it's a BTL and sister not living there she had to declare rental income. If she's living there then she can rent a room to her mother.You're getting confused with failed relationships where people have been living together.
In this case, the mother is a tenant in her daughter's BtL property. No more, no less. It just happens that her rent is the same as the mortgage payments, and her tenancy is implied. Oh, and the mortgage lender are almost certainly unaware of the tenancy, so the borrower is in breach of their contract...
~Laugh and the world laughs with you, weep and you weep alone.~:)
0 -
You're getting confused with failed relationships where people have been living together.
But to what extent does it go from renting to relationship? If I rented out a bedroom then got drunk one night & tapped that (but not again since) would she be able to claim entitlement for the money contributed up to then?Mortgage (Nov 15): £79,950 | Mortgage (May 19): £71,754 | Mortgage (Sep 22): £0
Cashback sites: £900 | £30k in 2016: £30,300 (101%)0 -
I hope the mother reads this. She isn't even dead and the daughter is sniffing the reddies0
-
TBeckett100 wrote: »I hope the mother reads this. She isn't even dead and the daughter is sniffing the reddies
I think the op is a man0 -
Is the daughter insuring the property?
Is she paying the Council Tax or is her mother?0 -
Immaterial, the resident comes top of the list in any situation (except HMO)
Is she paying the Council Tax or is her mother?This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.3K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.3K Work, Benefits & Business
- 601.1K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards