Protecting Mum in a family joint purchase

Marko286

Thanks for your replies.
Further info, Mum doesn’t have much of a network left where she now lives, one cousin who is understandably taken up with her own family and soon to arrive grandchild so she is quite isolated. My sister is raising her daughter so doesn’t go out to work. I do work but feel as she would be nearer I could visit more often and have her to stay rather than the long road trips to see her once a month.

Cakeguts

Marko286 wrote: »

Thanks for your replies.
Further info, Mum doesn’t have much of a network left where she now lives, one cousin who is understandably taken up with her own family and soon to arrive grandchild so she is quite isolated. My sister is raising her daughter so doesn’t go out to work. I do work but feel as she would be nearer I could visit more often and have her to stay rather than the long road trips to see her once a month.

Forget family. How many friends does she have? Does she have friends she does a hobby with? Is she near shops? If she moves to suit you will she still have the same level of independence. Someone who is used to being able to get to a bus stop to get a bus could get very isolated if they have to driven everywhere.

If she loses all her friends and her usual activities what is she going to do to occupy herself in the new area. Will you be able to cope if all she talks about are what has happened in Eastenders?

This is not a question about which member of the family is nearest to her it is about her personal friends who she has met in the area she lives in. You may not know anything about them but they are the people who will look after your mum the best. It is not in her best interests to make her move to a new area away from her friends to suit you.

Thrugelmir

Marko286 wrote: »

However I think leaving mum off the deeds leaves mum very vulnerable in terms of mortgage default, relationship breakdown, ability to realise her investment for care homes, and inheritance for my sister and I.

Even being on the deeds doesn't resolve these issues. As every party will have a different objective.

davidmcn

AdrianC wrote: »

Can the mother's investment be recognised with a charge against the property, rather than necessarily being a shared owner?

Potential issues:

• Mortgage lender might not consent to there being other charges
• A charge doesn't give her any occupancy rights
• Only protects her to the extent there is equity beyond the prior-ranking charge
• Entitles her to repossess and sell the property, not to take over as owner

Mojisola

Marko286 wrote: »

its proposed she buys a property with my sister’s family.

If your mother needs residential care, will your sister sell the house to release your Mum's money or be able to increase the mortgage to buy your Mum out?