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Ask Clare Your Own Question

Clare
Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 33312
Experience:  I have been a solicitor in High Street Practise since 1985 and have specialised in Family Law for the last 10 years
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Im buying a property with my mother she is gifting me the deposit

Customer Question

im buying a property with my mother she is gifting me the deposit and i am getting and paying the mortgage the property will be in my name, she will be living out the rest of her days in part of the house (annex) ..my concern is when she is no longer there the idea is to sell the property and the amount she has gifted to me as deposit would be split between me and my siblings ..my question is are my siblings entitled to the growth in value of the property in view that my mother is unable to obtain a mortgage because of age thus not entitling my siblings to anything other than a percentage of what my mother gifted as deposit..if so how would i get this writian into a will
Submitted: 10 months ago.
Category: Family Law
Expert:  Clare replied 10 months ago.
HiThank you for your questionMy name is ***** ***** I shall do my best to help youThis is a matter for your any your mother to agree.However you shoudl bear in mind that your mother's money represents an investment that is enabling you to purchase a property - and there is no reason why she should not have a return on that investment.Were this a matter before a court then it is likely that she would be allocated a precentage of the property equal to the amount of deposit as a percentage of the priceHowever, as I said this is a matter for you and your motherPlease ask if you need further detailsClare

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