• Right To Buy

    By Guest on 01st Aug 2018

    My 85 year old uncle would like to buy his rented council house property that he has lived in for 50 years under the right to buy scheme. He does not have the funds to do this but would like me to benefit by providing him with the funds (which is not against the scheme rules) and he will then leave the property to me in his will. My question is how to protect my investment should my uncle need to be cared for in care/nursing home when as a homeowner my uncle would be expected to sell his property to pay for his care. Could I give provide him with the funds and ask for a declaration of trust or statement of truth protected by a formula B restriction for the full purchase price?I would be providing the full amount. Would this protect my money or as this is under the govt. right to buy is there some sort of first charge to the council involved and I would lose my money?

  • No answers has been posted yet!

  • Post Your Answer


  • Do you want to be informed of further comments / replies? Yes No

Ask a Question

Search