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Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
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My stepson Stephen was involved in a serious accident. He had

Customer Question

My stepson Stephen was involved in a serious accident. He had to have his right and arm and leg amputated as a consequence and has spent the last year in various hospitals. He is 40 years old and now living with us at home. He is confined to the bedroom due to lack of mobility. My wife and l are both
approaching 70 and it is almost imposible to lift him without injuring ourselves.
Stephen wants to move to some form of independant but supported local authority accommodation. But he has a flat, currently let out to pay some of the mortgage we make up the balance of the mortgage payment. The local authority we are informed will not provide accommodation whilst he had an asset. Stephen wants to sell the flat but it is still in negative equity, as soon as we put it on the market the tennant will probably look for somewhere else and there will be no way of paying the mortgage. We are told by the local estate agent that it may take up to a year to sell the flat because it is on a development with very stringent conditions.
Can you please advise us, is there a way we can navigate through this. We would like to sell the flat to get Stephen appropriate living accommodation even at some loss, but we can't finance a year plus of full mortgage payments. We do not want it to be repossessed at a massive loss. If things stayed as they are until negative equity is removed we can afford to keep the payments going, but we need to get the flat out of Stephen's name and into ours,so he can move to supported accommodation. Stephen has agreed to this. Because of our age we cannot get a mortgage. Is there a way of achieving this or any other way legally we can move forward.
I hope l have explained the situation clearly. I look forward to hearing from you. Thank you
Austyn Clifford
Submitted: 2 years ago.
Category: Law
Customer: replied 2 years ago.
My email address seems to be not being accepted, for my reply could you please contact me on***@******.*** thanks
Customer: replied 2 years ago.
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Expert:  Ash replied 2 years ago.
Hello my name is ***** ***** I will,try and help you.Why can't the property just be sold, even at a loss please?alex
Customer: replied 2 years ago.
Hi Alex,
As l mentioned in my question, we would like to sell the propert tomorrow but we have been told by local estate agents that the property is on a development with stringent management conditions and on going legal disputes involving service charges which has created a huge financial liability for the owners, putting most if not all prospective purchasers off buying. One recent sale took over a year to achieve and because of the legal dispute the property was almost given away.
Expert:  Ash replied 2 years ago.
What is the difficulty with the management conditions?
Customer: replied 2 years ago.
Very exacting what you can and can't do therfore It is more suited to retired people and puts off professional 30 somethings who may be in the market.
Expert:  Ash replied 2 years ago.
But they are not preventing you from selling it?
Customer: replied 2 years ago.
No, the estate agents advise it is just an unattractive proposition to prospective buyers. There are other properties available locally without this set of financial complications and uncertainties.
Also as soon as we put it on the market we will very likely lose the tennant and the mortgage will be unaffordable.
Expert:  Ash replied 2 years ago.
Sadly you are stuck between a rock and a hard place. The management company are not stopping you from selling it which means you can.You have a tenant so the mortgage is being paid. But I understand you want to sell. You can do this and are free to do this at any time.I understand you said the tenant may leave, but sadly you can only make the tenant stay if they sign a new contractYou could let for short periods at a time, ie a month or so if you wish and can charge more for this because it's a short let.But there is no legal answer as such, you are free to sell and the tenant is free to give notice if they wish.I am sorry if this is not the answer you want and certainly not the one I want to give you, but I have a duty to be honest.Can I clairfy anything for you about this today please?Alex
Customer: replied 2 years ago.
I'm aware we can sell it. But at
something approaching half of what he paid for it which would leave him with a debt that the Morgage company would no doubt chase him for and he has no means of paying off. Do we declare bankruptcy are there other financial/fiscal options or alternatives available to him?
Also what l am enquiring about, is there a way Stephen's name can be taken off the mortgage or suspended until we can
sell it without huge financial debt being left for him?
At the moment with a tennants rent and our contribution it is affordable and will be for the foreseeable future.
Also is there a legal way around the bar being placed on Stephen, because of the flat, by the local authority on him getting assisted accommodation. His needs are such that he cannot live his life confined to a bedroom in a 16th c cottage with narrow passageways and stairs because of his serious disabilities.
Expert:  Ash replied 2 years ago.
I think based on what you have said he would be better to declare bankruptcy if he has no real assets. After twelve months he is discharged and debts written off.There isn't a bar sadly, but he would still be entitled to assisted accommodation depending on his needs.Can I clairfy anything else for you?Alex