Reply To: Part ownership of accommodation?

#8423
markp
Participant

Andy,

What does Land Reg say re owners? If they are named as owners and then transferred ownership to their son then you would have a case for previous owners of the property and therefore them not satisfying Reg 9 (1) (h). Otherwise you are left with the following (in Kevin’s order, sorry for cribbing!)

(1) No true liability;
(2) Liability exists but not commercial; or
(3) Liability contrived

Sorry about the questions but here goes…

What evidence has been offered by the way of proof of liability? Rent book or tenancy agreement? What proof have you got that money has actually changed hands? Do these show any inconsistencies? Has the son stated that he’d evict if rent isn’t paid?

I wouldn’t take the third option unless the evidence for contrivance gives you a strong case.

My final thought is asking about the fact the son took the £140k as repayment for the £80k loan (nice interest rate isn’t it! (sorry couldn’t resist that!)) so you have the question of whether you consider them to have deprived themselves of £60k in any case.

Food for thought and I’m glad that it’s not on my desk!

Do I know what I'm doing? The jury's out on that........................