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Advice needed

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  • 26-06-2019 11:35am
    #1
    Anna2834
    Registered Users Posts: 155 ✭✭


    Property bought in 2008. Had one parent on the mortgage but the deeds of the house aren't in the parents name. Looking to sell house. Parent doesn't want to sell. What can be done?


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    #2
    The Hound Gone Wild
    Registered Users Posts: 255 ✭✭The Hound Gone Wild


    Anna2834 wrote: »
    Property bought in 2008. Had one parent on the mortgage but the deeds of the house aren't in the parents name. Looking to sell house. Parent doesn't want to sell. What can be done?

    Contact a solicitor and be prepared for a family rift.


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    #3
    Anna2834
    Registered Users Posts: 155 ✭✭Anna2834


    I was dreading that to be honest. Even if the deeds of the house aren't in the parents name, nothing can be done? I am actually looking at even just signing the house to them at this stage. Not sure if the bank would singing it over to them as they are over 60 at this stage.


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    #4
    JJJackal
    Registered Users Posts: 1,016 ✭✭✭JJJackal


    Anna2834 wrote: »
    Property bought in 2008. Had one parent on the mortgage but the deeds of the house aren't in the parents name. Looking to sell house. Parent doesn't want to sell. What can be done?

    Why doesnt the parent want to sell? Some more context would be useful

    Is it worth more or less than you paid for it? Who lives in it

    Edit: plus why do you want to sell


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    #5
    antix80
    Registered Users Posts: 2,419 ✭✭✭antix80


    Sell your share to your parent.


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    #6
    Anna2834
    Registered Users Posts: 155 ✭✭Anna2834


    JJJackal wrote: »
    Why doesnt the parent want to sell? Some more context would be useful

    Is it worth more or less than you paid for it? Who lives in it

    They live with me - they planned on moving back to my home country (well they were planning 6 years ago it just never came to fruition). The agreement was that they would help me out with the mortgage (was single at the time) but they would only stay for a few years until all settles (all has settled and 11 years on they are still here). I don't want to fight with them, I just want to move on and I feel this house is dragging me down. Myself and my partner want to sell our properties and buy one together. Its as simple as that. I don't want any drama with the parents.

    The house is worth relatively what I paid for 11 years ago.

    I just want out...and would not be in a position to keep the current house and buy another one. I dont need extra hassle. I dont know how long they plan on staying here either. They are in their early 60's.

    I know for a fact that bank will say not to signing the house over to them.


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    #7
    antix80
    Registered Users Posts: 2,419 ✭✭✭antix80


    That changes things. No one will buy the house with that situation going on. Very hard to kick a family member out of their home when they're not paying a market rate rent.


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    #8
    Dawido
    Closed Accounts Posts: 43 ✭Dawido


    you can turf them out as your the homeowner


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    #9
    JJJackal
    Registered Users Posts: 1,016 ✭✭✭JJJackal


    Anna2834 wrote: »
    They live with me - they planned on moving back to my home country (well they were planning 6 years ago it just never came to fruition). The agreement was that they would help me out with the mortgage (was single at the time) but they would only stay for a few years until all settles (all has settled and 11 years on they are still here). I don't want to fight with them, I just want to move on and I feel this house is dragging me down. Myself and my partner want to sell our properties and buy one together. Its as simple as that. I don't want any drama with the parents.

    The house is worth relatively what I paid for 11 years ago.

    I just want out...and would not be in a position to keep the current house and buy another one. I dont need extra hassle. I dont know how long they plan on staying here either. They are in their early 60's.

    I know for a fact that bank will say not to signing the house over to them.

    So they dont want to sell it because they would have no where to live in ireland? Ireland is home now I presume?


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    #10
    Anna2834
    Registered Users Posts: 155 ✭✭Anna2834


    JJJackal wrote: »
    So they dont want to sell it because they would have no where to live in ireland? Ireland is home now I presume?

    Correct. But they always wanted to go back once they retired (one parent is retired at this stage).

    Guess I will just have to pay my share and move out in with my partner (and pay there too) and when they decide to move I might be able to sell then.

    Thanks for your answers.


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    #11
    Anna2834
    Registered Users Posts: 155 ✭✭Anna2834


    Dawido wrote: »
    you can turf them out as your the homeowner

    Oh God I would never do that. Absolutely not. I don't need hassle with them. Trying to avoid that as much as possible.


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    #12
    JJJackal
    Registered Users Posts: 1,016 ✭✭✭JJJackal


    Anna2834 wrote: »
    Correct. But they always wanted to go back once they retired (one parent is retired at this stage).

    Guess I will just have to pay my share and move out in with my partner (and pay there too) and when they decide to move I might be able to sell then.

    Thanks for your answers.

    Its worth noting that without your parents you wouldnt have this property in the first place... Plus they appear to be paying off part of the mortgage.

    This looks like a complex legal situation


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    #13
    Anna2834
    Registered Users Posts: 155 ✭✭Anna2834


    JJJackal wrote: »
    Its worth noting that without your parents you wouldnt have this property in the first place... Plus they appear to be paying off part of the mortgage.

    absolutely agree and hence why I am not looking for drama. I am at an age where I want to live with my partner. I hope you understand that. Do I regret buying the house with them (well one of them) yes I do, big time.

    I thought it might be. So I might as well just move out but still pay my part until, well until, time sorts this out, I guess.


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    #14
    Anna2834
    Registered Users Posts: 155 ✭✭Anna2834


    JJJackal wrote: »
    Its worth noting that without your parents you wouldnt have this property in the first place... Plus they appear to be paying off part of the mortgage.

    This looks like a complex legal situation

    I bought the house when I was very young. I didn't probably know what I was getting myself into.


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    #15
    .......
    Closed Accounts Posts: 9,057 ✭✭✭.......


    Are the parents paying part of the mortgage?

    Will they agree to rent your room out to someone to cover your part of the mortgage~?

    Will they buy your share out?


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    #16
    Col_30
    Registered Users Posts: 171 ✭✭Col_30


    Maybe you could sell the property to your local authority and your parent might be able to rent it back off them. Not sure if such an agreement is possible. But if your parent doesn't have the means to buy the place, they might qualify for social housing anyway.


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    #17
    Anna2834
    Registered Users Posts: 155 ✭✭Anna2834


    ....... wrote: »
    Are the parents paying part of the mortgage?

    Will they agree to rent your room out to someone to cover your part of the mortgage~?

    Will they buy your share out?

    Yes they are paying their share of the mortgage (half and half). I doubt the bank will allow for the change as they are in their early 60's with one parent retired. They wouldn't want to rent and live with strangers, I know them too well. My issues here aren't money (they pay their share) its purely that I want to move out and buy somewhere else and live with my partner. My dad suggested once they leave I should rent it out (hence they don't want it sold, even after they leave, which worries me) - but the last thing on my mind is to become and "unintentional landlady" and fork out thousands of euros once a year to the revenue. No way.

    I am in good relations with them and don't need a legal battle on my hands.


    Also the social housing thing someone else mentioned sounds interesting, but I doubt this exists - I could look into it. Guess my situation is a bit difficult and its something only time will fix.


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    #18
    .......
    Closed Accounts Posts: 9,057 ✭✭✭.......


    What about you buying out their half and then renting it to them?


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    #19
    Anna2834
    Registered Users Posts: 155 ✭✭Anna2834


    ....... wrote: »
    What about you buying out their half and then renting it to them?

    Yes, this is something the bank can advise on. I am on a good wage however not sure if the bank would consider it good enough given what we paid for this house back in 2008 just before the crash happened. My mortgage isn't small might I add. If I actually sell the house I think I would be able to buy a home where the mortgage is probably half of what I pay now. I feel like I am being held to ransom, not sure if that makes sense.


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