gifted mortgage

[atta]

my dad approached me to buy his house two years ago.as he was moving abroad after his retirement. he said i can have the house for �236.000.i went to see a bank for the money and they gave me an offer for the �236.000 but the bank came to value the property for �270.000. the bank wrote to my dad about the market price of the property which he agreed and gave the remaining �34.000 to me as a gift. the mortgage went through and i bought the property.now the problem is he has got his money and yet he said he has change his plan. he doesn't want to move out of the property and he doesn't want me to come to the house. he said i should take him to court if i want him out. can he take back his gift ? i want him to buy the house back , he has refused saying that he got no money. i am paying the mortgage on the house while he leave in the property for free. i paid stamp duty on the whole �270.000 at the completion of the mortgage. i need a help here plaese.

[doglady]

Surely you went through solicitors and everything, in which case he is now sqatting in your house and you could have him evicted.

If you didn't go thrugh solicitors and have it all changed over legally, then I don't know.

[factor-fiction]

I wish you luck in getting this sorted.
It's also a cautionary tale for all those people who consider buying their parent's property at nil cost/low cost/below market value thinking they'll avoid inheritance tax or care home fees or get an advance on their inheritance. Deals with family members have great potential to go wrong, especially where you allow the original owner to remain in the property. Always take legal advice!

[Fairie]

OMG you dont expect to be stung like that from your own dad though surely.

take him to court, have him thrown out, its awful what he has done!

[Mamjet]

Hahahaha! Your dad sounds like quite a character! Unlucky!

Way to go pops!

[musicman1956]

Tell him you'd like to discuss it. Then offer to take him out, one .22 in the temple should do it.

[jedimistress]

Is there a dispute over the gift? Was he expecting anything in return? Is this why things have turned sour?

[McNoodle]

What a tw@t.

[gina32]

surely if the mortgage went through then the house is in your name and not his?? or am i missing something here?

[kawa4]

that is no dad belive me. go 2 court and kick him out.

[DONNNAKEBAB]

This is awful.

Could your Dad afford to rent the property from you ? If he has no money could he get housing benefit?

A half hour consultation with a Solicitor will be free for you I believe.

Do you think he planned this ?

You could always stop paying the mortgage, the bank will re-posessess and although you would be blacklisted it would then be up to them surely to get your father out of the property.

Sorry I cant be of any more help other than to say this is shocking and very sad for you

Take Care.

katie. x

[tigerlily11]

Problem is the one who will get called all the names is you. Dispite what hes done it will Be " poor old soul. His own child kicking him out. Whats SOB's they are."
I think he needs a good kick in the backside and to do this you should take him to court but be prepared for some backlash.

[DONNNAKEBAB]

How can he not want you at the house? its your blinking house.

Move in there and throw lots of wild parties. Put a skip in garden and buy lots metal mashed cars from the scrapyard. Break all the windows and board them up and then get a load of art students to come and spray graffiti on them.

This would all be relatively inexpensive. You could also take all the doors off as well, front door, back door, the lot !

He wouldnt be able to replace them because HE HAS NO MONEY DOES HE !

Katie. x

[vivandorron]

I suggest you re-post your qestion in the Law Section of Answerbank and see what the legal boys and girls have to say on the matter......Best wishes ...Ron.

[tigerlily11]

By the Atta let us know how this goes if you don't mind. I would like to tink you can get your house back.

[Velvetee]

God, that's unbelievable. What kind of parent would do that to a child, sounds like he scammed you. You need to fight fire with fire. Go and seek legal advice.

If you have more scruples than your old dad and you haven't the heart to start eviction proceedings, maybe you should advertise to rent a couple of rooms out, so at least you will get some money coming in, to go towards the mortgage. He is effectively a sitting tenant, who refuses to pay rent.

[Fairie]

let us know how you get on atta

[factor-fiction]

This is an awful situation Atta.
But one thing puzzles me. If he said you could have it for �236,000 (which is below the �250,000 higher rate stamp duty threshold) I don't understand the reason for paying �270,000, thereby incurring much higher stamp duty, and then gifting back the �34,000. Was there some other reason for doing it this way round and incuuring additional stamp duty?

[Le Chat]

This all sounds a bit suspect..................

[jedimistress]

Oh yes. I thought you meant he just decided to gift you the excess it would have cost you on the open market. If money changed hands that seems very, very odd,