UK Family Law
UK Family Law Questions Answered by Verified Experts
There is no reason why this cannot be done. The easiest way would be for you to buy the non resident parent's share and then hold the property with the resident parent as tenants in common which is one of the 2 forms in which more than one person can hold property together. As tenants in common your exact share can be stated on the title deeds e.g. 35% and your share is distinct meaning that it does not automatically pass to the surviving co owner on your death but can be passed by you in your Will to whom you please.Alternatively you can hold your share on trust for the child so it passes to the child on your death.
The difficulties tend to be practical ones such a what happens if one of you wants to sell and the other does not or who pays for essential maintenance to the house and in what proportion.If you want to sell the house at a particular time then this should be agreed in advance with the resident parent.
I hope this helps. If there are any further points please reply
Thanks. Would it be possible to set things up so that the house is owned as follows:-
Can it be worded so that grandad or trustees could force sale at any time, after giving N months notice? Or at specified break-points (eg yearly review)?
It would be hard to list all the circumstances which might make him want to do that, but they might include :
Yes, all of this can be done.
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