positivenote
Registered User
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HI all,
we are 4 yrs into a 30yr morgage and we are still in negative equity. we are about to have our first child and are thinking about buying out the mam-in-laws house. Its a bigger house worth about 450-500k, whereas ours , these days, is only worth about 260-270k (we bought for 352k). The mum in law is living there on her own and we are talking about signing over the house to the wife and myself... but we are unsure of what is the legal requirements involved? is there a possibility of us buying it at a reduced value than the market price and paying enough for the mam-in-law to get herself a smaller 1 bed apartment? any advice with regard to this would be great. i can post more details if needed.
we are 4 yrs into a 30yr morgage and we are still in negative equity. we are about to have our first child and are thinking about buying out the mam-in-laws house. Its a bigger house worth about 450-500k, whereas ours , these days, is only worth about 260-270k (we bought for 352k). The mum in law is living there on her own and we are talking about signing over the house to the wife and myself... but we are unsure of what is the legal requirements involved? is there a possibility of us buying it at a reduced value than the market price and paying enough for the mam-in-law to get herself a smaller 1 bed apartment? any advice with regard to this would be great. i can post more details if needed.