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Part Owner Of House Rights
Comments
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I think Deanna means all the maintenance expenses on the property in question.rhiansian123 wrote: »Wow! Judgy much?! No she didn’t, actually!0 -
To everyone else, thanks very much for your helpful advice. It’s not a great situation to be in, but we need to be aware of our rights and any potential problems.0
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no, you misunderstand. You have a legal right to 12.5% of the sale proceeds.rhiansian123 wrote: »Wow! Judgy much?! No she didn’t, actually!
however, you have not yet confirmed if mother has paid all of the running costs of the property since you became an owner, or have you contributed 12.5% of them yourself ?
if not, the question of who is the beneficial owner of any income arising from use of the property (eg letting) is as yet TBC since that may, or may not, have been documented in the DoT0 -
no, you misunderstand. You have a legal right to 12.5% of the sale proceeds.
however, you have not yet confirmed if mother has paid all of the running costs of the property since you became an owner, or have you contributed 12.5% of them yourself ?
if not, the question of who is the beneficial owner of any income arising from use of the property (eg letting) is as yet TBC since that may, or may not, have been documented in the DoT
Ok, so first of all, I sincerely apologise to Deannatrois for misunderstanding her comment and taking offence to it 🙁
Just to clarify, the house is mortgage-free. There have been no improvements made to the property. The only thing my mother has had to replace is the boiler.0 -
That's IT? No other maintenance work to the property in the last decade...?
<shudder>
You definitely don't want to let it, then.0 -
Yep, my thoughts exactly! What a headache!0
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I would have thought that if your mother moves out that its time to sell the house. How old is your mother, does she know anything about being a landlord and since you are joint owners can you legally absolve yourself of responsibility.0
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