Hi, Thank you for your question and welcome. My name is ***** ***** I will assist you. Have you considered granting a lease for the exclusive use of the property for say 20-30 years - you could then say that it terminates automatically on death? £50,000 would be a set premium for that period and then they would be responsible for all maintenance insurance etc in that period? This would be safer than parting with legal ownership as you would be able to ensure that they maintain it properly. How long are they likely to live i.e are we talking about someone elderly? Kind regards AJ
We had thought of something like that. Would the Mobile Homes Act 1983 allow this? Wouldn't the 20 year lease also have to be registered at land registry?
The home is stationed on a site that I own. Normally under the MHA 83 they don't have an interest in land but security of tenure..
Problem is it's a residential park so we are unable to do that for licensing reasons :(
How about a chattel mortgage?
Yes happy to wait
Please can you keep looking. I've paid for a membership so there is no deposit. My question has been live now for 6 days. This really isn't very good. Please keep looking.