Beneficial interest in previous home.

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  • #44733
    cnl
    Participant

    Can anyone help with a query.

    A claimant has made an HB/CTB claim in respect of her L/A supported accommodation property. She moved from a property to which she was jointly liable for ctx with her son . This property was previously owned by local authority to which was purchased many years ago by her, her husband and her son.

    The claimant states that she has no beneficial interest in her previous property, she was just the tenant and her son funded the purchase.

    We are trying to establish whether the claimant has a beneficial interest in the property. The land registry shows, the claimant, her husband and the son. The son has also confirmed that the claimant and husband are on the mortgage.

    She doesn't think that anything was drawn up with a solicitor when the property was purchased. 

    As the claimant is responsible for the mortgage, would it be clear to say that she would have beneficial interest in the property if the property was sold.  

     

                 

      

    #126129
    John Boxall
    Participant

    Clearly she is down as a joint owner, so on the face of it she does have an interest, not just a beneficial one.

    Why is she no longer living with her husband? this may be relevant to any decision about disregarding the capital value of her interest

    Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery. The blossom is blighted, the leaf is withered, the god of day goes down upon the dreary scene, and—and in short you are for ever floored.

    Wilkins Micawber, Ch12 David Copperfield

    #126130
    cnl
    Participant

    Her husband is in hospital and it is unlikely that he will return home.

    #126131
    John Boxall
    Participant

    When the family bought the property, it may be set up so that the parents interest had to be transferred to the son at some stage. This was quite common with RTB sales. Try asking for that

    Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery. The blossom is blighted, the leaf is withered, the god of day goes down upon the dreary scene, and—and in short you are for ever floored.

    Wilkins Micawber, Ch12 David Copperfield

    #126132
    cnl
    Participant

    We have done that, but she thinks nothing was set up when the purchase took place.

    #126133
    John Boxall
    Participant

    Well, looks like she’s a joint owner then………………

    Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery. The blossom is blighted, the leaf is withered, the god of day goes down upon the dreary scene, and—and in short you are for ever floored.

    Wilkins Micawber, Ch12 David Copperfield

    #126134
    cnl
    Participant

    Thank you

    #126136
    Andy Thurman
    Keymaster

    Good luck with the valuation process here! What is her share? 33%? How much is the outstanding mortgage? What is the actual value of the claimant’s share of the property if the son is unwilling to sell/move?

    One for the Valuations Agency! The capital value may be quite small once everything is factored in.

    #126137
    cnl
    Participant

    Yes, we have taken that into account, the son states the property is worth £100,000 and we have asked for that information, but his solicitor has advised him not to sign anything for us.

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