The house was remortgaged In my name only
There was 65,000 owing and pay to the bank
My brother received 100,000 in his bank which was transferred to his i account and given to dad
I had a mortgage to pay and s
ole owner with the mortgage of £170,000
My brother was release from the mortage march 2010
I sold the property march 2013
My dad passed June 2013
For £250, 000
I promised to pay two younger siblings a sum not to exceed 4000
Not my brother whose name along with mine brought the house.
My question is with the statement not yo exceed £4000 I can give any amount up to £4000.
I want to give a gift of £500 in light of expediture on the property.
Because I have deducted from 75,000
Expediture over 3 years.
I never lived in the property and so i have deducted
New double glazing throughout
New front door
Roof leaking work
Clearing of rubbish old furniture
New front garden wall and patio
Fencing, patio and garden work
Plus 15,000 cash given to my dad includes expediture and reduce profit gain.
As well as purchasing the house solely it was with a view to making some profit
Plus repay 170,000 back on interest only
Plus 6000 for selling.
For some months another sibling not any previously mentioned.
He paid £350 per month
My mortgage repayment was £480
And then £580.00 per month
For the 12 months he lived in property he did not pay council tax at £146.00 per month so i paid the council tax.
When my father resided at the property tjis particular sibling had livef with him. He refuse to move out and he refused to pay council tac.
This is one of the main reason for selling. He did move out eventually he moved without informing me and the property was empty for several months.