Multiple people on deeds but sole mortgage?

Tom99

If you could find a mortgage co then a deed of trust can cover the fact that your wife will be responsible for the mortgage and that on sale will be paid back entirely from her share.
Do you own a property? If so I think 3% stamp duty will have to be paid on the £86,250 price being paid.

Marvel1

Sg2019 wrote: »

The other two shareholders are her mother and uncle. Both agreed no rent needs to be paid to them. Any repairs etc will be down to my wife. They've both agreed to keep the money in until she decides to sell.

Easy to say now, but when you need the money.

xylophone

Clearly two of the beneficiaries want their inheritance now and presumably could go down the route of a forced sale if determined enough.

Do the Uncle and Mother know this?

If so,better to persuade them to be bought out of the house by your wife?

davidmcn

Would a simpler solution be for everyone to sell the property, and your wife to take her share and use it to buy something else with a mortgage?

Sea_Shell

Keeping the property as proposed sounds like a future nightmare in the making.

Sell it, split the proceeds and then everyone can move on as they wish, with no ties or ongoing complications.