Hope someone can help,i bought my parents house in 1995 from the council right to buy scheme,we had a verbal agreement i would pay the mortgage,my parents would pay for any utility bills and improvements.I did not ask for any rent because this was an investment for myself,my father passed away a few years ago and my mother has carried on living there.The problem is that i am now financially strapped and need to sell the house quickly,consequently this decision has split the family its a case of me and them,my brothers and sisters have threatened me telling me i cannot go near the house,i have given them three options to resolve this,these are as follows 1>take over the mortgage and pay me a settlement,2>sell the house,3>i will have it repossessed,there answer is they will pay the mortgage off and i will walk away with nothing,this to me is not acceptable.Thank you in advance.
2007-06-30 19:36:02 · 6 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Verbal agreements are no good. Things change. Now you are stuck. Your siblings should purchase the house from you. Don't allow yourself to be bullied. You will live to regret it.
2007-06-30 19:44:44 · answer #1 · answered by proud walker 7 · 0⤊ 0⤋
There could be a 4th solution. If you coulf find an investor to purchase the house and then let your mother rent it from them.We did this on our own home when we needed to sell but hated the thought of leaving.Your mum will get help with the rent etc if she has a small income,so everyone is looked after.I think that as you have virtually paid for your parents to live rent free for 12 years,your siblings are being rather unfair.They cannot stop you going to the house(you own it) but please do'nt go down the repossession route as this will be dreadful for your mother who is probably already pretty upset by all this.Hope this helps,good luck.
2007-07-01 00:18:14 · answer #2 · answered by Anonymous · 0⤊ 0⤋
No good deed goes unpunished
Morally I think you are in the right but you are probably on shaky ground legally as there is no written contract although you might argue there is a verbal one.
You tell your siblings to butt out unless they can come out with a plan that compensates you for the money you have put in and they should stop threatening you. After you have to look after you and yours as well looking after your mum.
Good luck.
2007-06-30 22:01:17 · answer #3 · answered by godron_wookie 4 · 0⤊ 0⤋
How about asking your mum for some kind of rent contribution? Have you actually explained this situation to your mum and siblings? I don't know how bad your situation is but maybe they would be prepared to help out if you told them. (You didn't mention whether you had or not).
It also sounds as though your siblings just expect you to bear the cost of looking after your mum, that is really unfair. If there isn't a reasonable resolution, it does sound as though you're going to have to sell up.
2007-06-30 19:59:55 · answer #4 · answered by kpk 5 · 1⤊ 0⤋
if the deeds are in your name then you can just go ahead and sell it....maybe the for sale notice that will be put outside will make the family see you are serious
2007-06-30 19:45:28 · answer #5 · answered by Anonymous · 1⤊ 0⤋
I agree with you
2007-06-30 19:40:28 · answer #6 · answered by sekalyma 4 · 0⤊ 0⤋