How to best protect 50% share of property

Yorkshireman99

BonOeuf wrote: »

Thank you for all the input so far, the last post is essentially correct. Sis had planned to legally ring fence her input. It is not that I do not trust her, but that she does not see how circumstances may change in the future which will cause massive issues. I do not want to find myself having to resort to legal means to force a sale of the property after Mum has gone. Hopefully that will not be for some years, but I can think of any number of ways by which it might not be a good time to sell in the future.

My preferred option would be to sell the bungalow, offer some money to sis for modification of her property to accommodate Mum (which she has indicated is an option) and buy a couple of houses with the remainder to give Mum a decent retirement income which would allow her to build a decent nest egg and also be able to pay for any care as and when required. At the end the properties can be retained or sold. I appreciate there are tax and administrative issues but it seems a much cleaner way of dealing with it in the best interests of all.

I just think sis fancies being a PD but with no real experience I think it exposes the whole family to risk, both financial and emotional. Thanks again for all the replies so far.

You really would be better ALL getting paid for professional advice.There have been good and bad suggestions on here. Becoming a landlord is not a step to be taken lightly with the legal consquences.

Keep_pedalling

Yorkshireman99 wrote: »

You really would be better ALL getting paid for professional advice.There have been good and bad suggestions on here. Becoming a landlord is not a step to be taken lightly with the legal consquences.

I have to agree with this, your mother should consult a IFA.

Yorkshireman99

The whole family need advice not just the mother.

Keep_pedalling

Yorkshireman99 wrote: »

The whole family need advice not just the mother.

True, but as it is the mother’s assets that are mainly effected her needs are more urgent, and any advice she receives should be independent from those of her family.