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So, she’s not living in the house but the father is. She’s on benefits so you’re paying the mortgage of £50,000. She can’t raise the money to settle the claim being made against her.
If you can raise the extra £45,00 then you’re buying out the Trustee’s interest And it’s still a good investment for your kids. However they’ll still want the brother to raise his share. Can he do that?
Has a bankruptcy restriction been placed on the house at the Land Registry? If so it’s could be difficult to get a secured loan against it.
Sell it. Your ex will get any surplus back to reinvest (and your father in law could live in the new place).0
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