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toffeeb65
Posts: 16 Forumite
My son has split from his partner this time last year and he moved back home.
He joint owns the property they bought together and hes still paying half the mortgage and life and house/buildings insurance although not living there and shes at times over the 12 months took in a lodger to help with her end of the bills.
property cant be sold yet as too early into the initial house buy that they split up. so redemption fees and he doesnt have the money yet to pay them.
as his parent it grates me hugely that i feel hes being mugged off and been used just so she could acquire a bigger house (telling signs from history and friends info)
god forbid anything happen to him she will end up with a large house all paid for or a worry for me she doesnt pay and I as parent end up with half a house debt to inherit.
can this happen and what would need to be put in place to stop that happening in gthe mean time.
can he assign the life policy away from her?
He joint owns the property they bought together and hes still paying half the mortgage and life and house/buildings insurance although not living there and shes at times over the 12 months took in a lodger to help with her end of the bills.
property cant be sold yet as too early into the initial house buy that they split up. so redemption fees and he doesnt have the money yet to pay them.
as his parent it grates me hugely that i feel hes being mugged off and been used just so she could acquire a bigger house (telling signs from history and friends info)
god forbid anything happen to him she will end up with a large house all paid for or a worry for me she doesnt pay and I as parent end up with half a house debt to inherit.
can this happen and what would need to be put in place to stop that happening in gthe mean time.
can he assign the life policy away from her?
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Comments
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They are unmarried? How do they own the property?
If they are unmarried, own the property as tenants-in common, and your son died intestate, then if your son had no children, his interest in the property would pass to you/his other parent.
https://www.gov.uk/inherits-someone-dies-without-will
With regard to the insurance policy, does it pay the mortgagee the amount of any remaining mortgage in the event of the death of either of the parties?
If the property is owned as joint tenants, then if either party were to die then it would automatically fall into the sole ownership of the other party regardless of whether or not there was a will.0 -
They need to discuss this and come up with a plan.
I had this with my ex.
We agreed he would stay living there, and would "rent" the property at below market value. E.g market value £850. We agreed £700/month.
This was then deducted from the monthly mortgage payment of £1000, and the remaining £300 we paid half each.
He paid bills as he was living there.
He also took in a lodger to help with his share. I rented elsewhere.
If she refuses to cooperate, I suggest he moves back in.Should've = Should HAVE (not 'of')
Would've = Would HAVE (not 'of')
No, I am not perfect, but yes I do judge people on their use of basic English language. If you didn't know the above, then learn it! (If English is your second language, then you are forgiven!)0 -
If the property is owned as joint tenants, then if either party were to die then it would automatically fall into the sole ownership of the other party regardless of whether or not there was a will.
Also worth pointing out that if a property is owned as joint tenants, any interested party can change it to tenants-in-common without needing the other owners permission, and it's probably well worth your son doing this to protect his inheritance (assuming the peoperty actually has any equity in it and the ex isn't at deaths door )
https://www.gov.uk/joint-property-ownership/change-from-joint-tenants-to-tenants-in-common0 -
If he is still paying half the mortgage he should be getting the bulk of rent from lodger not his ex.0
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Then he can move back in.0
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Can he move back in?0
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While your concern for your son is understandable, OP, you need to come to terms with the fact that this is none of your direct business. Nobody involved has the slightest requirement to speak to you about it - and, in fact, they'd be breaking the law to do so.
All you can realistically do is give your son support from the sidelines. Point him to here to ask directly, rather than playing Chinese Whispers.0 -
as his parent it grates me hugely that i feel hes being mugged off and been used just so she could acquire a bigger house (telling signs from history and friends info)
This isn’t financial advice, but you really do need to let go of this. Your son was an adult and decided to buy a house with her. Women do not going around buying houses with partners then kicking them out for fun! They will both have wanted to live together and the relationship to work, but that doesn’t always pan out. It’s just one of those sad things in life and it sounds like your son is being mature about it so you should too!0 -
not sure how to respond to the last 2 posts.
thought i was asking for advice on issues with inheriting his debt rather than emotional advice...which the latter i dont need. thank you very much though
will remember in future to leave a back story out0
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