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F E Smith
F E Smith, Advocate
Category: Law
Satisfied Customers: 10226
Experience:  I have been practising for 30 years.
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I am about to move in to a property with my husband and

Customer Question

I am about to move in to a property with my husband and child that legally belongs to my husbands parents. The promise was that the property would be legally transferred in my my husbands name once he had finished renovating it but they have since retracted their promise. They are now expecting repayment of a loan given to my husband for the renovation in the form of a monthly "rental"payment for three years and expect me to pay half. I feel there is no security for myself or our child i.e I could pay half of my husbands debt to his parents as rent and not have any claim on the property if they should decide to sell / evict us / or that we separate. How can I protect myself in the event of the above?
Submitted: 1 year ago.
Category: Law
Expert:  F E Smith replied 1 year ago.

I can understand the part of your question about the transfer and the renovation but don’t understand the part about the loan and repayment. Can you please explain that a little better and also tell me exactly why the parents were doing this why they are now not doing it? Thanks.

Customer: replied 1 year ago.
They are wanting us to sign a tenancy agreement to pay £500 rent. The rent money will go towards paying off a sum of money they lent to my Husband to renovate the house before we met. There has been some dispute between my Husband and his parents recently that has led them to impose such conditions. I have asked them to clarify the terms of occupancy before my child and I move in.
Expert:  F E Smith replied 1 year ago.

This seems remarkably odd.

I can understand the payment of rent.

I can understand the repayment of the loan.

What I cannot understand is the repayment of the loan as rent.

What concerns me and concerns you I am sure is the dispute between husband and parents.

If the property is worth £500 per month rent, and provided you have a proper tenancy agreement, that it would appear to be cheaper than renting privately particularly of a chunk of the rent is being paid off the loan. However, I would want defining exactly how much is going off the loan and how much is paid as rent. I don’t like the one chunk of money to cover all eventualities.

I would also want a formal Assured Short hold Tenancy for a decent period of time. Although the minimum period is 6 months, it can be for any period although of longer than 5 years it must be by formal deed. Provided you comply with the provisions of the tenancy agreement and you pay the rent on time, you would be entitled to stay until the end of the term although you may want a provision whereby you have the option to purchase the property you may want to provision for you to be able to give notice during the term.

I don’t know why your husband got a loan to renovate a property which didn’t belong to him and why he is now being asked to repay that loan.

Can I clarify anything for you?

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Best wishes.