{"id":2929,"date":"2015-01-22T14:00:15","date_gmt":"2015-01-22T07:00:15","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/who-will-own-my-house-after-the-mortgage-is-paid-off\/"},"modified":"2016-01-28T14:31:44","modified_gmt":"2016-01-28T07:31:44","slug":"who-will-own-my-house-after-the-mortgage-is-paid-off","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/who-will-own-my-house-after-the-mortgage-is-paid-off\/","title":{"rendered":"Who will own my house after the mortgage is paid off?"},"content":{"rendered":"


\nI\u2019m paying half the price and my daughter is getting a mortgage for the rest. Will I have anything to leave my other daughter?Q I am purchasing a one-bedroom bungalow for me to live in. I\u2019m paying half of the cost of the bungalow in cash and one of my daughters has a mortgage for the other half. She tells me that after 10 years the whole house will be hers and that I can then live in it rent free. Then I will have nothing to leave my other daughter in my will. Is this correct? JFA It sounds to me as though your daughter is planning to take out the mortgage in her name only which will mean that only her name will appear on the title register held by the Land Registry (or, in the past, on the title deeds to the property). That\u2019s because if only one person is named on a mortgage, a lender will insist that the property is bought in that sole individual\u2019s name. So if you go ahead as your daughter proposes, she will effectively own the whole of the bungalow from day one even though you will have put up half the money for the property. Once the mortgage is paid off \u2013 which it sounds like it will be in 10 years\u2019 time \u2013 she will own the bungalow outright and there will be no risk of the mortgage lender repossessing it. So you are correct in thinking that as the bungalow will not belong to you, you won\u2019t be able to leave what would have been your share of it to your other daughter in your will. Continue reading…
\n
\nSource : theguardian.com
\nRead more…Who will own my house after the mortgage is paid off?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

I\u2019m paying half the price and my daughter is getting a mortgage for the rest....<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-2929","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-Lf","jetpack-related-posts":[{"id":103879,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/my-parents-have-a-lifetime-mortgage-what-happens-if-my-mother-sells\/","url_meta":{"origin":2929,"position":0},"title":"My parents have a 'lifetime mortgage' \u2013\u00a0what happens if my mother sells?","date":"February 11, 2019","format":false,"excerpt":"\r She will need to go into a care home soon and we\u2019re worried the lender will set the priceQ When my father died, my parents\u2019 joint mortgage was put into the sole name of my mother. 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She asked her mortgage lender whether she could have the garage\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":127381,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/if-i-swap-properties-with-my-daughter-will-we-have-to-pay-stamp-duty\/","url_meta":{"origin":2929,"position":4},"title":"If I swap properties with my daughter will we have to pay stamp duty?","date":"June 27, 2022","format":false,"excerpt":"\r I own my second home outright and she has a mortgage on a flat but no money will change handsQ I own a house outright. The property is a second home and not my main residence. My daughter and son-in-law have a mortgage on their flat. 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My ex paid half the mortgage until the rate doubled after our cheap rate finished, so since August I have paid it on my own.We\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/2929"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=2929"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/2929\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=2929"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=2929"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=2929"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}