Stick with me on this one.....
15 years ago DH and I bought a derelict property with an annexe as a project to work on and live in. We sold our house and got the necessary mortgage. As the way these things go our costs escalated and got to the point where we didn't have enough to finish. After speaking to in-laws they agreed to lend us the money on the proviso they live in the annexe. Against my better judgement we agreed. At the time I couldn't see any alternative.
So they moved in and a 2nd charge (as a percentage value) was placed on the house to protect their investment; rightly so. The terms of the charge is that on their death 2/3 of the investment is payable to BILs (with 1/3 going to DH). Again naively didn't consider this as a real issue, they would be around for years and some sort of agreement would be reached with BILs.
Well what a fucking nightmare the whole thing has been. My PIL are the most cold, self-centred, controlling people you could ever have the misfortune to come across. Even though we have a large majority stake in the house they try to control or cast judgement on everything we do. Every alteration to the property we've made, they've tried to block or at least cast judgement on. It's never said but there is clearly a huge undercurrent of resentment that they lent the money. We live in a beautiful part of the world and they have a gorgeous house, with no bills or maintenance to worry about but never once have they said they enjoy living here.
things originally came to a head about 8 years ago when I was so sick of them and the financial burden hanging over our heads that we put the house on the market (as we have legal ownership we have the right of sale). Of course this ran smack into the recession so the house didn't sell.
Anyway relations have become horribly strained again, so much so that following a huge row between MIL and DH (where they refused to give us a spare key to their house before leaving on a 3 month cruise) we decided that the only answer is to sell up and go our separate ways. Better to do it now rather than later as they are both in their mid 70s.
So we put this to them last week, although it was angled that our main concern was future money problems. Well, that opened the floodgates.. how could we do this to them at their time of life...don't we know how ill they are (deaths door for last 20 years!)...they'll never be able to afford anywhere else (untrue unless they want to move to Buck Palace)..how ungrateful we are for everything they have done for us etc etc...
I had to seriously bite my tongue as didn't want to make matters worse; also appreciate it was a shock. But as far as I'm concerned I just want and need for my sanity to get out. Very tempted to tell them if they hadn't been a pair of such a fucking mentalists it might not have come to this, but anyway.
Anyway they have spent the last few days obviously thinking things over and have told (not asked!) us that they want us to pay their stamp duty on a new house; likely to be about £8k!!!
Bizarrely and given the volatile relationship DH has with them he feels an element of guilt that we are "forcing them out of their home" and thinks we should pay it. I think they should go swing! They have done very well from their investment, more so if they had stayed in their previous house and have not contributed another penny to the upkeep or maintenecance of the property.
Guess I just needed a rant and this hopefully short period of hell will come to an end soon (please God let the house sell quickly!) but in the meantime would appreciate any words of advice from a legal expert or someone who's been through a similar experience. I truly regret ever entering into this arrangement with them but for DCs sake hope that some sort of relationship can be maintained.
Please or to access all these features
Please
or
to access all these features
Mumsnet has not checked the qualifications of anyone posting here. If you have any legal concerns we suggest you consult a solicitor.
Legal matters
Nightmare property charge situation with PIL
16 replies
summerholsdreamin · 02/11/2016 21:06
OP posts:
Alorsmum ·
03/11/2016 14:18
This reply has been deleted
Message withdrawn at poster's request.
Alorsmum ·
03/11/2016 19:19
This reply has been deleted
Message withdrawn at poster's request.
Please create an account
To comment on this thread you need to create a Mumsnet account.