Gifted Deposit/ Issues with in-laws

jrm1984

My partner and I bought our house nearly two years ago, with a large deposit from her parents, in lieu of her waiting for it as inheritance. This was done as a gifted deposit, with them taking out a second charge on the land to protect my partner's interest in case we split up. The money would only need to be repaid if we separated and sold the house, so I got none of the deposit.

Even though it is 'our house', it has lead to issues with interference and arguments about what we do with our house. This has lead to the in laws saying if they don't get their way-they will take the money out of the house. If I had the money to pay it I would, but the idea of them helping us was to get us a better house. Do they have any legal rights to try and take the money out of the house?

[Deleted User]

It absolutely depends on the terms of the agreement.

jrm1984

It was on the basis that as it was early inheritance, they do not expect the money back unless we separate and sell. There are emails documenting this from the in-laws, but nothing was ever signed as they were worried about 2nd house implications

Mojisola

jrm1984 wrote: »

My partner and I bought our house nearly two years ago, with a large deposit from her parents, in lieu of her waiting for it as inheritance.

This was done as a gifted deposit

Didn't they have to sign paperwork for the mortgage company saying that it was a gift?

If so, there's no way they can ask for it back - not that that's going to help family relations if you go ahead and do things to the house that they aren't happy about.

jrm1984

Cheers Mojisola, They did sign something with the mortgage provider, and the mortgage provider was happy for a 2nd charge to be placed for the same value on the land-line just didn't know if as there is nothing signed by us regarding the 2nd charge if they could choose to withdraw the money as and when they pleased.

getmore4less

They can't just take the money they would have to take you to court to force a sale and you have evidence the money was a gift to the daughter there is no debt to pay.

What is the basis of the ownership did you have a trust deed done at the time documenting the beneficial interests.

Stop having them round so they don't know what you are doing to the place.

getmore4less

Thinking about it

I would look at getting the charge removed on the grounds there is no debt.