Staving off a potential family dispute

flammable999

Sea_Shell wrote: »

Hi OP, how's it going? Have you had a chance to sit down with Father ,Sister, Wife and discuss everything?

Hey not just yet. Sis is currently undergoing some aggressive testing to do with side effects from her illness decades ago so not the best time. I have had some time to calm down and mull it over. Although her timing is strange, its not as if she demanded my dad get her share of the house or anything. It was more, dad prob panicked and felt he should try and do something. It doesnt change my stance on anything but I will prob give it a bit more time before broaching the subject. I guess its their prerogative to do so first anyway

Mojisola

flammable999 wrote: »

I have had some time to calm down and mull it over.

Although her timing is strange, its not as if she demanded my dad get her share of the house or anything. It was more, dad prob panicked and felt he should try and do something.

It doesnt change my stance on anything but I will prob give it a bit more time before broaching the subject.

I guess its their prerogative to do so first anyway

Why not just wait for them to raise it again - if they do.

If they've had calmer thoughts about it, it may never be mentioned again.

armchaireconomist

I think you're bang on OP - the house is yours, and her "gift" is the financially security YOU gave your parents. If she wanted a share, she should have contributed. Make sure she is aware of the amount of payments you have made as a result that she CHOSE not to help with.

flammable999

Unfortunately, this has reared its ugly head again after it went away for a bit while me and my wife had a baby.

!So basically, I am solely on the mortgage as it stands and also solely on the land registry documents.

!Today, my dad has produced a bunch of figures listing his contributions to maintenance and whatnot since I took over the mortgage to justify him being 50% on the land registry along with me 50%.! Even though its unfortunate that my dad has produced almost a bill against me, its admittedly a sizeable amount.

If he was put 50% on the land registry and it was inserted that in the event of his death, his share would go to my sister, am I right in thinking we would then have to get my sisters permission for any future house sale/re-mortgage and she would be entitled to 50% of any monies from the sale?

So in effect, does the land registry ( and the above caveats) trump the mortgage in this respect?

fairy_lights

Surely you can produce a bill for rent to counter your dads bill for maintenance?
I doubt your mortgage company would allow you to add him back on to the deeds anyway.

[Deleted User]

flammable999 wrote: »

If he was put 50% on the land registry and it was inserted that in the event of his death, his share would go to my sister, am I right in thinking we would then have to get my sisters permission for any future house sale/re-mortgage and she would be entitled to 50% of any monies from the sale?

I'm not an expert, but i would have thought that IF your dad was to go back on as a joint owner, then 50% of his share would go to your sister, and 50% to you. So in effect, your sister would have a 25% stake in the house.

Thats of course is dependant on if he has a will and what it says. He could leave his whole 50% to your sister if he so wanted.

getmore4less

flammable999 wrote: »

........
If he was put 50% on the land registry and it was inserted that in the event of his death, his share would go to my sister, am I right in thinking we would then have to get my sisters permission for any future house sale/re-mortgage and she would be entitled to 50% of any monies from the sale?

So in effect, does the land registry ( and the above caveats) trump the mortgage in this respect?

You would become the sole legal owner, would not require her permission for any sale.

downhillfast

I really feel for you OP this is a right mess!
If your father truly believed he was going to retain 50% of the house when you did this deal then why did he not just remain on the deeds then? Probably because you wouldn't be able to get a sole application mortgage with joint owners? The same will still apply now when you come to remortgage.
Also, if he wanted to retain 50% of the property then why did he not pay you half the mortgage and you split all maintenance 50% with him?
As much as you have benefitted in equity from this deal as has already been pointed out your parent(s) have been able to remain in the home they love which would not have happened if you had not stepped in.
(I wouldn't be able to do this) but how about calling their bluff and offering to sell the property? You could give your father half of the gifted equity back for him to do with as he pleases... and you get to go house shopping for your brand new family with the equity you retain! Certain individuals might suddenly realise how important your contribution has been.

Good luck with sorting it all out and enjoy parenthood!

Wicked_Lady

I take it you still have your Interest only mortgage?

Or did you manage to change it to a repayment mortgage?

flammable999

Thanks for the input guys. Yes still on interest only as don't wanna get into anything else until this rubbish gets fixed

So am I right in thinking, that to be 50% on land registry, you have to be on mortgage papers as well because no way anyone eill give dad one at his age. Or do you just need the mortgage companies permission to add someone else on?

I could produce a bill but to be honest his bill would trump mine as mortgage payments have been low and he has had a bit of work done to the house

He has also been telling other people 5hat he thinks I will throw them out. Maybe another reason he is keen to get on paperwork coz feeling insecure in old age but as you have seen from previous posts, it's more than likely coz of my sis.

Yeah, despite everything I couldn't call their bluff let alone throw them out. It is quite sad that a father has to produce some kind of invoice to his son like this but heigh ho.