Advanced search

Can DB legally buy half of DM's house?

(10 Posts)
Teecup Sun 19-Mar-17 16:48:07

Just that really...
DB wants to buy half of DM's house. She owns it outright so no mortgage to think about.

Back story is that DM wants to sell her house and use the money to build a granny flat attached to my house, to live in.

If DB buys half of her house we would still have enough money to build the extension. DM's old house would then be rented out.

What implications would it have for DM if she went into care. Officially she would still own half her house and presumably get half the rental income? Would the council have any claim to her half of this property or the income from it?

(I know that the granny flat extension would not have be sold because there are young and old family living in the same property).

Any advice welcome!smile

JoJoSM2 Mon 20-Mar-17 00:22:56

I'm not an expert but think that the house (or half of it) being a valueable asset would definitely be taken into consideration.

Floggingmolly Mon 20-Mar-17 11:08:15

If she needed care in the nearish future, it could be seen as a deliberate disposing of assets. Who told you that there would be no claim on the granny flat? I'm fairly sure (but not certain) that that isn't true.
Given that you will have enhanced the value of your home due to her asset stripping, there could well be financial implications for you too.
Best take legal advice.

Sunnyshores Mon 20-Mar-17 11:27:11

When you say DB wants to buy half the house, you mean he expects to be given half of the house not that he will pay DM? I think it will confuse issues, getting rent, splitting it. tax returns, having to sell it later down the line for DM to pay any care fees etc

If he wants 'his inheritance' early it would be neater to sell the house and split the money (an inheritance tax specialist would advise how).

Teecup Mon 20-Mar-17 13:31:43

Thanks for the responses everyone.

Flogging I have had legal advice about the granny flat extension. It will be part of my house rather than a separate accommodation. Normally the council would seem to reclaim some of the assets. However, they can't if there are family living there who are under 16 or over 60. Luckily myself, DS and DD will cover this in both ways.

DB doesn't want his inheritance early or anything like that ...he's simply very sentimental about DMs house and doesn't want to sell it. I think it would be a bad idea because he doesn't realise the effort involved in renting a property. The implications for DM still owning half the house are also a concern though...

MiniCooperLover Mon 20-Mar-17 13:38:52

Is he also doing this to stop the house being sold if your DM were to pass away (apologies for even mentioning it) and you also then own half?

Sunnyshores Mon 20-Mar-17 16:13:16

Being a landlord is a pita and full of legal nightmares and not as much profit as people imagine.

And its not a good idea to rent out a much loved home, as time passes it wont resemble the family home - maybe a new (cheap) kitchen, new (cheap, plain) carpets, magnolia walls, garden no longer with pretty flowers etc...

If DM has accepted she needs to sell it, it is probably best done now.

GrubbyWindows Mon 20-Mar-17 22:52:36

Agree agree with synnyshores , you would be nightmare landlords if your DB is doing it out of sentimentality. Either he buys it for him to live in or its time to say your fond farewells to the house.

Teecup Tue 21-Mar-17 12:58:01

Yes I agree...DB is a wonderful person but I don't think he could cope with being a landlord. It makes logical sense to sell the house outright.

I'm going to have to talk him out of it aren't I?

GrubbyWindows Tue 21-Mar-17 15:34:41

Sounds like you are. It's a horrid time in many ways, isn't it.
Do you have any family who rent a place out? Could they talk to him re how unemotional it all has to be?

Join the discussion

Registering is free, easy, and means you can join in the discussion, watch threads, get discounts, win prizes and lots more.

Register now »

Already registered? Log in with: