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Coming of age and property ownership
Comments
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The trustees should have registered the house(min 2 when there is a minor) as trustees in their names
The beneficial owner(the grandson} has been living in the place and benefited, the need for the person with parental responsibility living there to pay rent to the trust is unlikely.
It is probably not that big a problem to formalise the true status retrospectively, as the trust exists.
Get proper legal advice.0 -
getmore4less wrote: »The trustees should have registered the house(min 2 when there is a minor) as trustees in their names
The beneficial owner(the grandson} has been living in the place and benefited, the need for the person with parental responsibility living there to pay rent to the trust is unlikely.
It is probably not that big a problem to formalise the true status retrospectively, as the trust exists.
Get proper legal advice.
Could you clarify please. I think it's the son who's the owner although the money used to buy the property was bequeathed to the grandson. So their view would be that they bought it on the child's behalf as an investment and a place to live.
I agree that it's probably not a major problem as the father and grandfather (or grandmother
) seem to have acted in good faith and protected the assets but it does need sorting ASAP. 0 -
Could you clarify please. I think it's the son who's the owner although the money used to buy the property was bequeathed to the grandson. So their view would be that they bought it on the child's behalf as an investment and a place to live.
I agree that it's probably not a major problem as the father and grandfather (or grandmother) seem to have acted in good faith and protected the assets but it does need sorting ASAP.
It may be sortable now but if they father were to marry and then divorce this woman she may try to claim an interest in the property"You've been reading SOS when it's just your clock reading 5:05 "0 -
Does the new girlfriend realise the house is owned by the minor son and not her partner?0
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Does the new girlfriend realise the house is owned by the minor son and not her partner?
But that's the whole point. It's not owned by the son although it should be.
OP hasn't really responded to any of the points raised. I do hope he's at least read them and taken them seriously rather than just walk away because the responses aren't sympathetic.0
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