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Shared Ownership query


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Hi all. I have had a great tenant in for 12 months and she loves the house, pays her rent on time and wants to stay. She is due to receive a considerable sum as a result of as divorce, but not enough to buy outright and as she is on benefits, couldnt get a mortgage. She has asked what I think about her putting the money into the property. The amount she has would probably buy exactly half, so she would own half and pay rent to us for the other half. I dont even know where to start to find out whether this is a good idea or not. Any ideas or advice would be greatly appreciated.



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Hi Lanaby,

Surely if she is on benefit then any income such as this settlement will take her out of the benefit area?

If you want to sell then do so outright but why go halfway with someone who is already making you money? I wouldn't do it myself. What happens if she defaults on rent or payments in the future - you are stuffed owning half a property and her in residence. A definite NO in my book.



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