My feed
Premium

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

Paying for DIY in DP's home

4 replies

fackinell · 20/01/2013 16:30

I live with my DP and pay half of all household costs. I see this as a rental situation and not a contribution towards his mortgage. I am soon to be inheriting a good few thousand from my share of my late Father's property, when it's sold. DP's home will go (quite rightly) to his 16yo DD should anything happen to him. He has a separation agreement with his Ex (separated for yrs and nowt to do with me) and divorce pending as soon as he can afford it). Ex has her share already when he bought her out. What my concern is, if I invest large sums of money to do up the house (it needs it, badly), how do I ensure that I get my investment back should (God forbid) anything happen to him? I don't want half of his house as its his DD's birthright but I could end up turfed out with nothing and leave her a very nice house and me out of pocket. Also, if the divorce isn't finalised does it go to his Ex in spite of the agreement? He's not very organised at seeing to legal matters.
Is keeping receipts enough or do we need the costly option of involving a lawyer? I would only want what I paid in to do up the property back and not the 'rent' I pay.

OP posts:
Report
NotaDisneyMum · 20/01/2013 16:38

My DP has written a will that gives me the right to continue to live in our home (his house) after his death, or i can sell and buy another (so I could downsize) - but in the event of my subsequent death, his DCs inherit it.
Would this sort of arrangement suit you?

Report
fackinell · 20/01/2013 16:59

Thank you NotaDisneyMum, I would feel a bit bad about that as she is older and could use it to fund her education, travel or live in it herself. do you have DC together or have you paid a lot more in than me? We are fairly newish (as in a cpl of yrs), I don't really see that as my right as a newbie without being married or having DC together (although we are hoping for both). In theory that sounds amazing but it's not something I'd expect iyswim.

OP posts:
Report
Collaborate · 20/01/2013 18:00

Speak to him. Agree how to calculate what you get back on sale, and when that sale shall take place. U suggest you work out what % your contribution bears to the post-works value of the property, and you get this % on sale. Agree too the responsibility for the mortgage. If you in future have an interest in the property maybe your payments towards the mortgage should get you an extra interest,
When you have an agreement go to a solicitor and get a trust deed drawn up. If you don't do this you may struggle to get a penny on sale.

Report
fackinell · 20/01/2013 18:42

Thanks Collaborate, he agrees I should get back out what I put in and before any alterations take place I will get him to put something in writing. I have a very bad credit history which I aim to clear asap (thanks to being screwed over by an ex and a bad business decision). I don't want to go on the mortgage in case creditors seize the property. I shall sit down and discuss it properly with him and see what we can come up with. It's a shame but there is no doubt in my mind that I would be given immediate marching orders should the unthinkable happen. I'm not parting with my inheritance for someone who cannot stand the sight of me. Thanks for your input.

OP posts:
Report
Please create an account

To comment on this thread you need to create a Mumsnet account.