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Clare
Clare, Family Solicitor
Category: UK Family Law
Satisfied Customers: 27653
Experience:  25 years experience of all aspects of family law
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I am a Greek Citizen and I would like to buy a flat in London

Resolved Question:

I am a Greek Citizen and I would like to buy a flat in London for my 11 year old daughter as an investment for her?

1. Can I do that?
2. Can the flat be rented until she is 18 when she will manage it by herself? Who is going to receive the rent?
3. Can I live there myself until she is 18?
4. I was never married to her mother. Do I need her mothers consent?

Thank you in advance.
Submitted: 1 year ago.
Category: UK Family Law
Expert:  Clare replied 1 year ago.
Hi
Thank you for your question I shall do my best to assist you.
1.Because your daughter is only 11 you cannot purchase the property in her name but you can set up a Trust for her and the Trust can hold the property
2.The Trust can receive the rent
3. Yes
4. No
I hope that this is of assistance - please ask if you need further information
Claire
Customer: replied 1 year ago.

Thank you so much Claire,


 


1. How is the trust being managed then? ie. can the trust rent the flat for 3 years and then I live in the flat for 2 years and then it is rented again? What I mean will I have any control over the trust?


 


2. Can the rents received be invested or spent? Do I have any control of it all?


 


Thank you in advance

Expert:  Clare replied 1 year ago.
Hi
Since you will be the one setting up the Trust you can decide how these matters are dealt with!
Claire
Clare, Family Solicitor
Category: UK Family Law
Satisfied Customers: 27653
Experience: 25 years experience of all aspects of family law
Clare and 3 other UK Family Law Specialists are ready to help you

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