Question on paying rent.

Alan Crowder wrote:

Good day to you all.

I suspect the answer i might get is "you need profesional help" but I will ask
just in case somebody knows and has an answer.

My daughter is in the process of purchasing her first property and this will clean
her out of savings for the deposit, and with me and her mum funding some as well,
the property will be in her name only but her boyfried will be moving in with her,
he has agreed to pay a sum of money each month for rent and will go halves on food
but not bills etc, my question is how can we protect my daughter from any claim
from him in the future for a percentage of the property?

With the best will, love and commitment sometimes relationships go pear shaped.

Regards
Alan

With great difficulty , if you intend to lend her money then make sure that its
secured against the property

Get proffesional advise asap

Alan Crowder wrote:


"steve robinson" <email@anonym; wrote in message
news:email@anonym...
> Alan Crowder wrote:
>
> > Good day to you all.
> >
> > I suspect the answer i might get is "you need profesional help" but I will ask
> > just in case somebody knows and has an answer.
> >
> > My daughter is in the process of purchasing her first property and this will
> > clean her out of savings for the deposit, and with me and her mum funding some
> > as well, the property will be in her name only but her boyfried will be moving
> > in with her, he has agreed to pay a sum of money each month for rent and will
> > go halves on food but not bills etc, my question is how can we protect my
> > daughter from any claim from him in the future for a percentage of the
> > property?
> >
> > With the best will, love and commitment sometimes relationships go pear
> > shaped.
> >
> > Regards
> > Alan
>
> With great difficulty , if you intend to lend her money then make sure that its
> secured against the property
>
> Get proffesional advise asap

Actually we are giving my daughter the money, and equiping the house with all she
needs to live in it, so the advice is to get professional assistance to get some
sort of contract/deal drawn up for him to sign?

Regards
Alan

Very difficult if he is your daughters partner , he could simply at a later stage
say i was put under duress by your daughter , i have put a large amount into the
property over x amount of years

He would have just as much right to snatch and grab as much as any woman placed in a
similar position

Its your daughter you need to deal with as i already said you loan her the money and
secure it to the property this reduces the value of the aset if he tries to grab it

It doesnt mean your daughter ever has to pay you back but it protects the investment
in her future

As i said earlier you need to seek proper professional advice

"Alan Crowder" <Alan.Cemail@anonym; wrote in message
news:hadjnc$qtl$email@anonym...
Good day to you all.

I suspect the answer i might get is "you need profesional help" but I will
ask just in case somebody knows and has an answer.

My daughter is in the process of purchasing her first property and this
will clean her out of savings for the deposit, and with me and her mum
funding some as well, the property will be in her name only but her
boyfried will be moving in with her, he has agreed to pay a sum of money
each month for rent and will go halves on food but not bills etc, my
question is how can we protect my daughter from any claim from him in the
future for a percentage of the property?

With the best will, love and commitment sometimes relationships go pear
shaped.

If they stay together for any meaningful period of time it may be almost
impossible.
The two things that spring to mind is make sure you have a charge lodged
against the property to protect your extent of the property and also make
sure you use a rent book and it is filled in correctly as time passes,
although this gives him certain rights it also makes it quite clear what the
arrangement is financially should he claim to have been contributing to the
mortgage rather than paying rent.
I would also suggest writing the agreement up, this may not hold up legally,
but should be taken as an indication of intent should things go wrong.

This may be moot since the Gov't may introduce the 'common law' situation at
any time, which would effectively give him rights over the property
regardless if the time constraints etc are met.

All that said, bear in mind that currently there are no inherent rights from
living together and as such your daughter could currently wave goodbye to
him at any time and probably be scot free, but as I said above this could
change so the above is based on your request to 'protect'.
For instance if children come along etc etc.

"Whatever" <email@anonym; wrote in message
news:g-6dnZl1h6_WPlfXnZ2dnUVZ8lmdnZemail@anonym...

"Alan Crowder" <Alan.Cemail@anonym; wrote in message
news:hadjnc$qtl$email@anonym...
Good day to you all.

I suspect the answer i might get is "you need profesional help" but I
will ask just in case somebody knows and has an answer.

My daughter is in the process of purchasing her first property and this
will clean her out of savings for the deposit, and with me and her mum
funding some as well, the property will be in her name only but her
boyfried will be moving in with her, he has agreed to pay a sum of money
each month for rent and will go halves on food but not bills etc, my
question is how can we protect my daughter from any claim from him in the
future for a percentage of the property?

With the best will, love and commitment sometimes relationships go pear
shaped.

If they stay together for any meaningful period of time it may be almost
impossible.
The two things that spring to mind is make sure you have a charge lodged
against the property to protect your extent of the property and also make
sure you use a rent book and it is filled in correctly as time passes,
although this gives him certain rights it also makes it quite clear what
the arrangement is financially should he claim to have been contributing
to the mortgage rather than paying rent.
I would also suggest writing the agreement up, this may not hold up
legally, but should be taken as an indication of intent should things go
wrong.

This may be moot since the Gov't may introduce the 'common law' situation
at any time, which would effectively give him rights over the property
regardless if the time constraints etc are met.

Whatever change there is in the law will only effect his rights against the
part owned by the partner.

If the parents keep the ownership of the part of the house that they provide
the funds for (as I think Steve is suggesting), he can never gain any rights
to that part, even if the parents make no charge to the daughter for the use
of their property and are known to be intending to gift that property to the
daughter at a later date.

Personally, I think that this is by far the best solution. The only
downside is that should the parents die before they gift the house there may
be some IHT to pay. But I can assure you that if you lose your parents at a
young age you have far more to stress you than an IHT bill.

tim

On 6 Oct, 10:50, "steve robinson" wrote:
And also realise your daughter would need to declare the rent as income a=
nd pay tax
on the money

The Rent a Room scheme is an optional scheme that lets you receive a
34250 of tax-free 'gross' income (receipts before expenses) from
renting furnished accommodation in your only or main home. The
principal point to bear in mind is that if you are in the Rent a Room
scheme you can't claim any expenses relating to the letting (for
example, wear and tear, insurance, repairs, heating and lighting).

Owain

On Oct 5, 9:100pm, "Alan Crowder" <Alan.Crow...@pharm.ox.ac.uk> wrote:
Good day to you all.

I suspect the answer i might get is "you need profesional help" but I wil=
l
ask just in case somebody knows and has an answer.

My daughter is in the process of purchasing her first property and this w=
ill
clean her out of savings for the deposit, and with me and her mum funding
some as well, the property will be in her name only but her boyfried will=
be
moving in with her, he has agreed to pay a sum of money each month for re=
nt
and will go halves on food but not bills etc, my question is how can we
protect my daughter from any claim from him in the future for a percentag=
e
of the property?


I'm not sure that the other posters are necessarily correct. My
reading of the leading authorities on this point is that if there is a
clearly stated intention by both parties that one does not acquire
property in the shared house they will not do so. The courts won't
intervene to undo that situation (unless there has been a clearly
stated change of intention) absent some good reason to do so. Its not
like a matrimonial property situation (or that of an engaged couple
acquiring property together).

So, my hunch is that you can do something about it.

Francis

"Francis Davey" <email@anonym; wrote in message
news:email@anonym...
On Oct 5, 9:10 pm, "Alan Crowder" <Alan.Crow...@pharm.ox.ac.uk> wrote:
Good day to you all.

I suspect the answer i might get is "you need profesional help" but I will
ask just in case somebody knows and has an answer.

My daughter is in the process of purchasing her first property and this
will
clean her out of savings for the deposit, and with me and her mum funding
some as well, the property will be in her name only but her boyfried will
be
moving in with her, he has agreed to pay a sum of money each month for
rent
and will go halves on food but not bills etc, my question is how can we
protect my daughter from any claim from him in the future for a percentage
of the property?


I'm not sure that the other posters are necessarily correct. My
reading of the leading authorities on this point is that if there is a
clearly stated intention by both parties that one does not acquire
property in the shared house they will not do so. The courts won't
intervene to undo that situation (unless there has been a clearly
stated change of intention) absent some good reason to do so. Its not
like a matrimonial property situation (or that of an engaged couple
acquiring property together).

So, my hunch is that you can do something about it.

Francis

-----------------------------------------------------------------------

I think the point that you have missed is that some politicians have stated
that they may legislate to change this. It could be that such a change will
have retrospective effect (for a current relationship).

tim