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Remus2004, Barrister
Category: Property Law
Satisfied Customers: 2457
Experience:  Over 5 years in practice.
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Clare10 years ago my sister lent us some money and we put together

Customer Question

Hi Clare
10 years ago my sister lent us some money and we put together a deed of trust. The deed said she should put a restriction on the property which she has only just done. We have let her live in the main part of the house, and she was going to contribute to bills. But now that arrangement is not working as she will not pay any more money than she did 10 years ago. We want her to move out and we have offered her alternative accomodation in the annexe which is where we have had to live, but she is refusing to move. the deed of trust does not give her a right of occupation and states that it was a loan. Does the fact she has put a restriction on the property mean that she will lose an overriding status on the property and therefore is not entitled to live there
Submitted: 2 years ago.
Category: Property Law
Expert:  Clare replied 2 years ago.
HiThank you for your question.How much is the house worth and how much did you borrow?What are the repayment arrangements?
Customer: replied 2 years ago.
The whole property is worth 800,000 the mortgage is mine and my husbands name. we borrowed 70k from her
We have said that when the house sells she is entitled to half of the available equity. we both have to give 2 years notice if we want the property to be sold
Expert:  Clare replied 2 years ago.
How much is outstanding on the mortgage?
Customer: replied 2 years ago.
originally we verbally agreed to both pay the mortgage off so no repayment plan was in place this is why we discussed the available equity but she has never paid anything off of the mortgage - as it is interest only we have not paid anything either to avoid increasing her share of the available equity
Customer: replied 2 years ago.
340000 and a 2nd mortgage of 123000
Customer: replied 2 years ago.
the deed of trust was not done officially it was a document we downloaded from the internet ourselves and so is quite an amateur document, it does not state anything about repayment or right of occupancy.
Expert:  Clare replied 2 years ago.
Why did you give her half of the equity?
Customer: replied 2 years ago.
IS this something that you can give us advice on? We want to move back into the main house, and we have offered her alternative accomodation. We want to buy her out but cannot do that for about a year or so, now she has this restriction can we enforce her to move out of the main house?
Expert:  Clare replied 2 years ago.
I appreciate what you wish to know - but would need to see the document first - can you scan it and send it to me?
Customer: replied 2 years ago.
I already have this as a zip file - shall I attach to this message?
Expert:  Clare replied 2 years ago.
HiYes please
Customer: replied 2 years ago.
here is the deed that was sent by my sisters solicitor to the land registry - she should have submitted this within 6 months of the agreement 10 years ago.
Customer: replied 2 years ago.
any news?
Customer: replied 2 years ago.
hello could you let me know if you are able to give us any advice? thank you
Customer: replied 2 years ago.
can you confirm that I have not been charged for this exchange?
Customer: replied 2 years ago.
I am getting concerned that you have taken £38 from my account and I have not had any response to my query nor am I getting any response to these messages.