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Definition of property ownership

modboy118
modboy118 Posts: 14 Forumite
Ninth Anniversary Name Dropper First Post Combo Breaker
in House buying, renting & selling
Me and my partner have been saving and are now in the position to get a shared ownership property. However, during a recent conversation with my partner's mother it was revealed that she has a Deed of Trust on 25% of the family home (this was part of a divorce settlement from 15 years ago when the mum and dad split).

My partner knew nothing about this but now we aren't sure if she qualifies for shared ownership property as you are not allowed to own any other property.

Does anyone know if her situation would count as 'property ownership'? Bearing in mind she knew nothing about this and does not benefit from it at all.

If my partner is now disqualified from shared ownership, how can this be rectified?

Any help would be much appreciated.
Cheers.

Comments

  • Doozergirl
    Doozergirl Posts: 34,078 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    A deed of trust would mean she isn't on the deeds but has money tied in the house. I don't think that counts as property ownership.
    Everything that is supposed to be in heaven is already here on earth.
  • AdrianC
    AdrianC Posts: 42,189 Forumite
    Eighth Anniversary 10,000 Posts Name Dropper
    What do you mean by "she has a deed of trust"? In itself, that's pretty meaningless.

    You need to investigate that in more detail, then speak to the housing association who you'll be sharing ownership with.
  • booksurr
    booksurr Posts: 3,700 Forumite
    a deed of trust for 25% of the family home does not in itself confirm if she is the legal owner, it merely implies she is entitled to 25% of the beneficial value of the property

    as Adrian C says, more info required....
  • davidmcn
    davidmcn Posts: 23,596 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    modboy118 wrote: »
    you are not allowed to own any other property

    There is no general legal prohibition along these lines, so if it's the housing association's policy you'll need to check exactly what they mean (once you've worked out what you mean about the deed of trust!).
  • modboy118
    modboy118 Posts: 14 Forumite
    Ninth Anniversary Name Dropper First Post Combo Breaker
    Thank you all for your help. It seems the next logical step is to ask the housing association.
  • marksoton
    marksoton Posts: 17,516 Forumite
    modboy118 wrote: »
    Thank you all for your help. It seems the next logical step is to ask the housing association.

    Did you ascertain the deed of trust first? If not it's pointless speaking to the HA.
  • G_M
    G_M Posts: 51,977 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    modboy118 wrote: »
    Thank you all for your help. It seems the next logical step is to ask the housing association.
    No.

    The next logical step is to get a copy of the Deed and make sure you understand it.
This discussion has been closed.
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