Former Council House conundrum.

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  • #45579
    jpw22
    Participant

    Right to buy completed in 2005.

    Customer's son-in-law either a) buys the property or b) gives parents in law the money to buy it themselves (depending on which version of the evidence we believe). 

    In 2008 the customers then "gifts" the property for the sum of £1.00 to their granddaughter.  It would appear that she then uses the property as collateral for a £60k mortgage on her own home.

    2012, the granddaughter then sells the property for £120.000 (ker-ching !) to a third party.  There's a clause generously inserted into the sale, which limits the new owner from charging more than £500.00 per month rent for the first three years.

    As they owned within the previous five yrs and were not forced to sell themselves, then entitlement to HB is precluded, but is there also a deprivation of capital argument as well ?

    They've knowingly deprived themselves of a valuable asset (how they acquired that asset is another question), and I want to cross as many i's and dot as many t's as possible before the inevitable appeal…

    Any and all thoughts gratefully received.

     

     

    #128282
    John Boxall
    Participant

    Is there an issue over recovering the discount as they transferrd the property after only 3 years??

    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

    #128392
    jpw22
    Participant

    Hi John, purchased Jan 2005, “transferred” August 2008 so they’re just outside the three years.

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