They married three years ago in June, but they have lived together for longer - perhaps seven years. They purchased a flat in London approximately 18 months ago for £380k. Our daughter (with our help) put in a deposit of £80k (£50k from us, £30k of her own money). They will re-mortgage in June this year, and we want to give her another £50k to reduce the mortgage (part of our inheritance tax planning), so she will have paid £130k of the original £380k purchase price. Her husband was not able to contribute to the deposit, but they share the mortgage payments. I understand that if they were "simply" cohabitating, then they could be "Tenants in Common", but I do not know if this applies to married couples.
There are no children at the moment, but they are planning on starting a family later this year/early next.
I should say that her husband is perfectly happy to sign some sort of document that would protect our daughters share of the property if they ever did split up.
Many thanks for your help.
Many thanks Clare.
We would want to pursue the second option - the post-nuptial agreement.
Does the post-nuptial agreement have to refer to, and include only the funds we have given to our daughter, or can it simply state the total amount of money that she has put into the purchase of the house (i.e. the money that we have given her, plus the contribution from her savings?
Thank you Clare.