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!

Buying my daughter out of her share

2»

Comments

  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
    10,000 Posts Fifth Anniversary Name Dropper Photogenic
    oldtup wrote: »
    Suppose I go ahead and buy my daughters share. Do I take on the obligation she has (apparently in law) to not force a sale whilst the children are living there?

    Hang on, surely she'd be forcing a sale in that case, in which she couldn't sell it to you?
  • oldtup
    oldtup Posts: 27 Forumite
    I think the point about rent is that this can be agreed in exchange for not forcing a sale.
  • HappyMJ
    HappyMJ Posts: 21,115 Forumite
    10,000 Posts Combo Breaker
    oldtup wrote: »
    I think the point about rent is that this can be agreed in exchange for not forcing a sale.

    He already has that agreement as you say "in law" so there's no way I would if I were him agree to pay rent to keep exactly the same agreement. Remember his children are being housed and the other parent is foregoing rent to keep those children housed so there's no need to agree a sale to you and pay rent. He has no obligation to.
    :footie:
    :p Regular savers earn 6% interest (HSBC, First Direct, M&S) :p Loans cost 2.9% per year (Nationwide) = FREE money. :p
  • Pixie5740
    Pixie5740 Posts: 14,515 Forumite
    10,000 Posts Eighth Anniversary Name Dropper Photogenic
    How was the house dealt with during the divorce? How old are the children?

    If the ex was willing to you could set up a private mortgage arrangement between you an the ex. The current mortgage would be redeemed as part of the transaction. You then have the first charge on the property with the ex being the sole owner and a document detailing when payments have to be made and how much etc. That would prevent any SDLT or CGT liability for you.
  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
    10,000 Posts Fifth Anniversary Name Dropper Photogenic
    oldtup wrote: »
    I think the point about rent is that this can be agreed in exchange for not forcing a sale.

    Doh! But that's already in place !!

    "Pay me rent or I'll force you to sell."

    "The courts have an order in place forbidding that, remember? "

    "Oh"
  • getmore4less
    getmore4less Posts: 46,882 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    oldtup wrote: »
    .
    She has remarried and wants to buy a shared ownership home from a Housing Association. Their rules are that they will not sell to anyone who has a share in another home.
    ..

    Does this rule apply to legal owners and/or beneficial owners.
  • getmore4less
    getmore4less Posts: 46,882 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    other options

    buy a proper place not a shared ownership one
    have the new husband to buy it
  • Poppy9
    Poppy9 Posts: 18,833 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    Has all this been discussed with her ex. Is he happy to have ex MIL involved?
    :) ~Laugh and the world laughs with you, weep and you weep alone.~:)
  • Tygermoth
    Tygermoth Posts: 1,413 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Also our local HTB agent (one of the larger ones) released an email last week conforming that you can still qualify if you have a house elsewhere.

    Also now first come first served, 80K income and the only priority group now considered is MOD staff.

    So she may want to check this and avoid the whole thing.....
    Please note I have a cognitive disability - as such my wording can be a bit off, muddled, misspelt or in some cases i can miss out some words totally...
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 352.1K Banking & Borrowing
  • 253.6K Reduce Debt & Boost Income
  • 454.3K Spending & Discounts
  • 245.2K Work, Benefits & Business
  • 600.9K Mortgages, Homes & Bills
  • 177.5K Life & Family
  • 259K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture