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Shared ownership with family
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Another vote for no, don't get involved. Family and money do not mix. There will be resentment from them if you ask for rent on your share. The mortgage lender will not like the arrangement and how on earth will you proceed should they fall into financial difficulties or lose their jobs and be unable to pay the mortgage/and or the rent. There will be arguments or disagreements over improvements to the property if you have different tastes. Too many potentials for disaster to count.I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
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The OP is essentially gifting £100,000 to his sister in law and giving her total control of it.
What if she stays in the house for life? You get no financial return ever and have to sue for your money (costing thousands of pounds).
What if she stays and then leaves the house to her children? You get nothing and have to sue her children for your money (costing thousands of pounds).
What if she sells in 25 years and gives you a cheque for £100,000 because that is exactly what you "loaned" to her? You lose again.
What if you need the money back urgently and she refuses to pay up or sell the house? You lose yet again unless you have a solicitor that works for free.
There is no way to win in this situation as you have no control of your own money.
The SIL should pay for her own house.
The OP should speak to a solicitor and see how long it takes for him / her to stop laughing.0
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