Hi,
A friend of mine asked me to throw this one out to the 'vastly' knowledgeable posters on this site
His sister sold her house a while back, no mortgage, and moved in with her husband & 3 kids to their mother’s house that lives on her own.
He is not sure what his sister’s long term plans are but is aware she does not have enough funds to purchase a house in Dublin which is where she wants to live.
He was going to suggest to his sister that she buys him out of his share of the house (there is only the two of them)
This would mean his sister would become the sole beneficiary of the house on the death of their mother (She is 76 & could live for another 20 years +)
Is this a good deal for his sister? She could end up with a 450K house for about 150K (The family buyout discount!)
He wants to know is this madness for his sister/him.
What are the ups/downs of this deal? Does it make any sense?
I've talked it through with him & have explained what I think but he is looking for more opinions??
Over to you
A friend of mine asked me to throw this one out to the 'vastly' knowledgeable posters on this site
His sister sold her house a while back, no mortgage, and moved in with her husband & 3 kids to their mother’s house that lives on her own.
He is not sure what his sister’s long term plans are but is aware she does not have enough funds to purchase a house in Dublin which is where she wants to live.
He was going to suggest to his sister that she buys him out of his share of the house (there is only the two of them)
This would mean his sister would become the sole beneficiary of the house on the death of their mother (She is 76 & could live for another 20 years +)
Is this a good deal for his sister? She could end up with a 450K house for about 150K (The family buyout discount!)
He wants to know is this madness for his sister/him.
What are the ups/downs of this deal? Does it make any sense?
I've talked it through with him & have explained what I think but he is looking for more opinions??
Over to you