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Original poster

Safeguarding deposit for son . Legal advice needed please.

57 replies

Cricketsandowls · 21/09/2024 02:13

Posting for traffic here and need advice from people working in this area.
We are about to give our son a substantial sum for a deposit on a house with his partner. They have a child but are not married. My concern is what would happen if they split up in the future. Her parents are giving an equal amount , but in the event of a split I am concerned he may lose the deposit. Or would it be sold and split equally? I don’t know what the legal situation is and how we could ensure he doesn’t lose the money in the event they split up. Do we need to do anything to protect the money before we give it to him?

OP posts:
Original poster
Cricketsandowls · 23/09/2024 20:04

Changingplace · 23/09/2024 07:38

I have no idea why people are being so hostile, this is sensible financial planning and it’s very common.

Speak to a solicitor and have each of their deposits ring fenced, and it’s not interfering as some people have suggested since this is your money you’re gifting to him.

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Thank god somebody understands

OP posts:
Changingplace · 23/09/2024 20:08

Humphhhh · 23/09/2024 18:19

THIS!

Creating mistrust and division when the money is 50/50 anyway is naive/stupid.

Unmarried tenants in common means that if your son died suddenly, his partner may have to deal with the loss of her home and more importantly her child's home at the worst time of her life.

But you know what, you go ahead. Don't be surprised if you don't have a particularly close relationship with her and subsequently their children.

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Nobody is creating mistrust and division, this is a financial decision, you need to take emotion out of this equation entirely.

It also doesn’t mean his partner would lose the house unless he decided to specify this in his will, he can make a will and do whatever he likes with his share.

Humphhhh · 24/09/2024 05:10

Changingplace · 23/09/2024 20:08

Nobody is creating mistrust and division, this is a financial decision, you need to take emotion out of this equation entirely.

It also doesn’t mean his partner would lose the house unless he decided to specify this in his will, he can make a will and do whatever he likes with his share.

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How can you take emotional out of parents interfering in your relationship? That's what this is.

Yes he can leave his half of the house to whoever he likes. And as he has a dependent child that could be over-ruled by a court. All hugely stressful and totally pointless. Joint tenancy protects the other party at time of death.

Again OP, if they were not contributing 50/50 you may have a point. But they are so your interference would have no benefit and make things worse for them and yourself.

Interested in this thread?

Then you might like threads about these subjects:

Family law General money
Original poster
Cricketsandowls · 24/09/2024 05:17

I’m absolutely not interfering. We are giving them a substantial sum so they are able to have a stable family home, for all of their benefit. I have never suggested that I’m interfering. They are asking for advice about the legal side of things having never bought before. I’m trying to help them. At the same time I’m trying to be responsible in ensuring our son doesn’t lose what we are putting on in the EVENT that the relationship might break down in the future. It’s common sense I would have thought. Many people have said this to me so it’s not just me thinking like this. Im sure his partners parents are doing the same because they aren’t fools.

OP posts:
PurBal · 24/09/2024 05:30

Tenants in common not joint tenants.

But I agree with PP, your son needs to do the honourable thing and marry the mother of his child tbh.

Changingplace · 24/09/2024 06:51

Humphhhh · 24/09/2024 05:10

How can you take emotional out of parents interfering in your relationship? That's what this is.

Yes he can leave his half of the house to whoever he likes. And as he has a dependent child that could be over-ruled by a court. All hugely stressful and totally pointless. Joint tenancy protects the other party at time of death.

Again OP, if they were not contributing 50/50 you may have a point. But they are so your interference would have no benefit and make things worse for them and yourself.

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Obviously I mean he would leave his half of the house to his partner in the event of his death 🙄 If he has a child he should have a will regardless.

This is about the OP protecting the large sum of money she’s kindly handing over, not about making a judgement on their relationship. It would be incredibly naive to not be considering these options.

Humphhhh · 24/09/2024 07:27

Changingplace · 24/09/2024 06:51

Obviously I mean he would leave his half of the house to his partner in the event of his death 🙄 If he has a child he should have a will regardless.

This is about the OP protecting the large sum of money she’s kindly handing over, not about making a judgement on their relationship. It would be incredibly naive to not be considering these options.

Edited
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But the OPs money is neutralised by his partners money. They're not married so she can't claim any of his. There is nothing to be gained by the OP interfering here.

I really don't get what is so difficult to understand here.

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