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Thomas Judge
Thomas Judge, Lawyer
Category: Law
Satisfied Customers: 33037
Experience:  Over 25 years experience in law
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My sister and brother-in-law bought my parents home with a

Customer Question

My sister and brother-in-law bought my parents home with a loan to value mortgage of 85% to enable them to live in the house, but didn't pay the additional 15% (I assume the price recorded by the land registry was to enable them to secure the 85% LTV without having to come up with a deposit). Both parents have subsequently passed away leaving 3 children behind.
Who owns the 15% above the loan to value mortgage they took out?
Submitted: 1 year ago.
Category: Law
Expert:  Thomas Judge replied 1 year ago.
I see - the starting point will be the agreement which your brother and sister entered into with your parents at the time they bought the house. Secondly were they buying all of the house or just giving your parents the 85%. If they were giving just the 85% then there is a good argument that the 15% belongs to the estate and would be distributed pursuant to the terms of the will. Happy to discuss - please rate positive
Thomas Judge and 4 other Law Specialists are ready to help you
Customer: replied 1 year ago.
For arguments sake let's say it was the whole house. However they couldn't have bought it without the 15% "deposit". All I really need to know is whether it is a legal or moral issue? My parents continued living there paying rent because they had fallen into difficulty and couldn't afford the mortgage.
Expert:  Thomas Judge replied 1 year ago.
If they bought the whole house then it is no longer a legal issue but from your perspective a moral one. THey did what they did with the consent of the parents,
Customer: replied 1 year ago.
Thank you
Expert:  Thomas Judge replied 1 year ago.
my pleasure