Who gets the money?

[Staringatthetiles]

MIL died 10 years ago. She left a static caravan that she had originally bought with the purpose in mind of taking her GC (DS’s) to once they got a little older. Sadly she died before she was able to do this.

When MIL died, FIL quite understandably didn’t feel the same about the caravan and instead said he wanted to give it to DH. However, he suggested that he continued to help to pay for half of the ground rent (we paid half) so that MIL’s wishes of her GC having many happy summers there could continue.

So the caravan was signed over into DH’s name. And for 10 years we have maintained, paid utilities, insurance etc for the caravan.

Fast forward 10 years. As a family we have outgrown the caravan so a difficult decision has been made to sell it.

So my question is …
Who should the get the money from the sale?

Roughly how much did you sell it for?

10yr+ Caravan can't be worth too much.

I'd 50/50 and use my half to do something with the family as a last memory to your mums wishes with the caravan (or all of FIL wishes to too)

It should be a case of, dad here's the money from the sale. No it's okay, you keep it.

You have had 10 years of free holidays (minus half the ground rent) but he signed it over to DP.

Think I'd split it.

Can't be worth very much anyway.

Tricky one. I think I'd say here you go Dad. If he chooses not to take it that's up to him. Although he passed it over, your DH hasn't paid anything for the purchase of it. Half of the maintenance yes, but probably all of the use of it?

There’s no real right or wrong answer here, you know better than any of us what feels right for your family and what people’s expectations would be. Some parents would be horrified if you even offered, some would be mortally offended if you didn’t.

I have no idea how much a caravan even sells for but if we’re talking a few grand and everyone involved is financially comfortable enough not to ‘need’ the money then I think the idea of using it for a special holiday, in the spirit of your MIL’s original purchase, is lovely.

Offer the money to FIL, he will likely refuse

How much do either DH or FIL need the money? How much money? It seems pointless to regift it to FIL unless he needs it, it will come back, less taxes, to DH at some point?

If he gave the caravan to DH then it’s DH’s choice what to do with the money. 10 years ago, so beyond IHT requirements. Does DH need the money? Maybe it could be offered to FIL or split between the GC?

Offer FIL the money. He’ll probably say no, and you’ll have a clean conscience. If he says yes and receives the money you haven’t lost anything - you still got to enjoy great holidays and won’t fall out with your FIL.

Money goes to the grandchildren.

Use the money to take FIL on holiday?
Or put it towards a bigger caravan?

In my family, DH would offer the whole amount to FIL and say how lovely it has been for everyone to enjoy the holidays as MIL planned. And then FIL would say no, he couldn't possibly, it's DH's money. Then, if neither FIL nor DH desperately needs the money, they would haver a bit more and agree to split it 50/50. Or, if you and your DH are really struggling (you've said FIL is comfortable), FIL might say DH should keep the money. DH would then make sure to buy or do something smaller for FIL (eg., lovely meal out).

A ten year old caravan is quite possibly not worth as much as the site will charge you for getting rid of it. You can usually only sell it back to the site, so I'd talk to them first and see where you stand.

I would transfer the money to FIL. You’ve had your holidays out of it, which is what your MIL wanted.

If you made the decision to sell together, you must have talked about what would happen with any proceeds surely?

Talk to your FIL, honestly why are you asking this question? Are you trying to avoid talking to him?

Why not just ask FIL if he would like half off the money? Given that he give you the caravan plus payed half the rates it's only right you ask him, given that's he has no money worries and was kind enough to pay half the rates he will probably tell you to keep it.