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Family loan

Flip1234 · 2019-05-17 00:02:45

Hi apologies if I'm posting in the wrong area. In 2012 my wife and I bought a property. My FIL leant us 35000 towards the cost. We had an agreement that within 10 years we would repay him 1/5 of the properties value. 10 years went by and he wrote the debt off. We are now getting a divorce and ex has said that FIL now wants…

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dogshome Posts: 3,878 Forumite

14 June 2019 at 7:32AM

I still believe that both the wife and departing husband are jointly liable for the debt.

The OP says that the wife wants to stay in the house and buy out his share, and I suspect that it is Dad who's come up with the plan of resurrecting the loan at it's present value and laying it all on the shoulders of the husband, to reduce the buy-out sum.

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