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OH inheriting house

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  • TheShape
    TheShape Posts: 1,882 Forumite
    Ninth Anniversary 1,000 Posts Name Dropper Combo Breaker
    I think the best solution would be for both OP and OH to own an equal 50/50 share (either as tenants in common or joint tenants) of the property. I think they could do one of the following:

    OH could gift 50% of the property to OP (a big ask).

    OP could buy 50% of the property from OH but would need £190k to do so.

    OP and OH could take out a joint mortgage (it would almost certainly have to be a joint mortgage) of £190k (or £170k if OP uses £20k of his savings). OH would keep the money, OP could commit to paying the mortgage, attempting to pay it off as quickly as possible. OH would be liable for the mortgage repayments if OP were to stop paying.
  • Malthusian
    Malthusian Posts: 11,055 Forumite
    Tenth Anniversary 10,000 Posts Name Dropper Photogenic
    ViktorOnopko wrote: »
    OH raised it with me rather than vice versa in a "What could we do to give you some ownership of this house?".

    Was she playing a Beyonce record in the background when she asked you that question?

    If you don't want to be a lodger then you will need to raise a mortgage of £190k to buy half the house off her. This will give her £190k in cash which she will have to do something with (or £155k after paying off the mortgage) but if you insist on living as two separate people then that would be her problem.

    Anything else is a partial solution. If you use your savings to buy £35,000 worth of furniture you are still only 16% of the way towards having equal ownership (owning an interest worth £35,000 in what is now a £415,000 house).

    On the other hand if having a small minority share in the house is enough to allow you to not "feel like a lodger", then give her two twenty pound notes for a 0.01% share.
  • getmore4less
    getmore4less Posts: 46,882 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    Buy 1/2 the house, she could even be your lender, she had enough cash.

    You come up with a reasonable payment plan, that still allows you to contribute 50:50 to the refurb work.
  • atush
    atush Posts: 18,731 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    phillw wrote: »

    Everything else is complicated and runs the risk of her pulling the "whats yours is mine, whats mine is mine".

    So sexist. It could be the other way round
  • atush
    atush Posts: 18,731 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    buy part of the house, either 35K worth, or 190K worth. Period.

    Or just get married for crissakes
  • cloud_dog
    cloud_dog Posts: 6,321 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    Are you together or not?

    Life is simple, people complicate it.
    Personal Responsibility - Sad but True :D

    Sometimes.... I am like a dog with a bone
  • bigadaj
    bigadaj Posts: 11,531 Forumite
    Ninth Anniversary 10,000 Posts Name Dropper
    Just need to follow the advice of the wurzels.
  • Malthusian
    Malthusian Posts: 11,055 Forumite
    Tenth Anniversary 10,000 Posts Name Dropper Photogenic
    bigadaj wrote: »
    Just need to follow the advice of the wurzels.

    Don't tell I tell 'ee? Thee's got in where thee cassn't back'n hasn't? Or should the OP give her the key to his combine harvester?
  • C_Mababejive
    C_Mababejive Posts: 11,668 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Never mix business with pleasure because if the realtionship fails, it will be everyman for himself.

    Here is a good spoonful of TOLATA...

    http://www.dailymail.co.uk/news/article-4857640/Therapist-ordered-fiancee-half-family-home.html
    Feudal Britain needs land reform. 70% of the land is "owned" by 1 % of the population and at least 50% is unregistered (inherited by landed gentry). Thats why your slave box costs so much..
  • xylophone
    xylophone Posts: 45,600 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Post 2.

    Tenants - in - common. Comprehensive Deed of Trust. Sorted?
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