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getmore4less wrote: »
It is looking like the 25% is after 80k paid off so only 20k off the 25% share.
theoretica wrote: »
So at the moment, you have a house worth £500k with claims against it for £80k by the bank and up to £105k by the partner - and complications about who can access what, when.
The bank are going to get their £80k - they can get it the easy way by you paying it, or they can get it the hard way by repossessing. If they repossess they would have charges and little motivation to get the very best price so this would probably be a financially poor decision - you and your mother could well lose lot of money going that route.
Is the partner claiming the whole or a portion of your father's estate?
xylophone wrote: »
The banks were happy to allow you to deal with your father's affairs even though you have not applied to be the PR?
Was the house originally wholly owned by your mother but she permitted your father to borrow £80,000 using the property as security?
The divorce settlement allowed him 25% of the value of the property on your mother's death or re-marriage?
For the past two years you have been using this money to pay the interest owed by your father? Or you are holding the money in a separate account to meet (partially) the repayment of the £80,000?
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