'Right to buy'

[saleen836]

As with a council property, Mrs Saleen is thinking about providing the finance by way of a mortgage for her father to purchase the house he lives in under the 'right to buy' scheme, the house will have to stay in his name for the first 5 years. Is there any way other than him writing a will leaving the house to Mrs Saleen for her to protect herself and the house should anything happen?

Or should she just forget the idea as it is a bad idea?

[dalenorth]

Depending on a little more detail being needed, a life insurance policy could be an option.

[saleen836]

dalenorth said:

Depending on a little more detail being needed, a life insurance policy could be an option.

Sorry, didn't make myself very clear, I meant protect herself and the property should father lose the plot and lay claim that the house is his or to change his will leaving the house to her other siblings etc.

[dalenorth]

I would of thought you would need a decent property lawyer to put something in place.

Pm me if you want our solicitors details, I'm sure there will be a solution to the problem.

[anonymous-user]

I bought my then father in laws house of him before he died, money paid out to the other siblings at time of purchase and he continued to live in it until he died when my then wife got it in his will. (long story why we did it that way) absolutly no problems but I trusted my brother in laws and my father in law, if you don't trust them don't do it.

[anonymous-user]

Get a solicitor to draw up a loan agreement.

That way even if he does change his will your Mrs will still be paid from the estate (as long as there is something left in the estate and he hasn't spent it on fine dining and gogo dancers).