UK Property Law
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What do you mean by 'protect him in the event of your death' - the charge would be an asset of the estate which your executors would be entitled to call in unless otherwise directed.
Thanks for your reply.
You should make a Will concurrently with the completion of the charge in your favour and the completion of the purchase of the propety. The Will can specify that you do not wish for the charge to be called in so long as he continues the repayments due to your estate under it.
The charge would also specify that it may only be called in (ie. effecting asked to immediately be repaid or otherwise an order for sale will be applied for) if a certain event was to happen (ie. a missed or number of missed payments).
You should speak to a Wills and Probate solicitor about this and ask this be reflected in your Will, for the sake of convenience and practicality it would sensible to instruct someone at the same firm.
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It depends on how much control you wish to retain over the property. As joint owner you would be entitled at any point to ask your co-owner to buy you out, if he is not able to do so you can apply to Court for an order for sale to realise the equity.
A charge depends on what the charge itself actually specifies but generally does not afford a right to apply to Court for an order for sale in the absence of any default and so does not grant you much control if the chargee (ie. your partner's son) observes the terms of the charge.
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