Re: Sprzedać Dom wewnątrz rodziny - dzierżawa z możliwością zakupu, renta dożywotnia, prywatny kredyt
Napisany przez Luzie -
- śr wrz 19, 2018 10:07 am
Cześć,
Currently Im racking my brain for a good solution that works for everyone involved, which is why Ive signed up here. I hope that with a little input from outside, things may become clearer.
A few years ago, I took over my parents house, which is a multi-family home for three parties (including a small granny flat). My husband and I (both around 50 years old) live in the house. One of the apartments is occupied by one of our children with their partner (not married), while the other child lives in the remaining apartment. One child is still studying. The other child, in their mid-twenties, has finished studying and their partner is self-employed and financially stable. Currently, none of the children are paying rent to me. Both my parents have passed away. The house does not need immediate renovation, but there will be work to be done in the future regarding heating, the roof, and so on. The estimated value of the house was €200,000 at the time of the handover several years ago.
To take over the house, I paid out my sister in two installments. The first installment was paid immediately, financed by registering a mortgage. The second installment was due later. Due to my husbands illness, we were unable to save up the necessary funds for the second installment, and when the payment was due, the family discussed what to do. Given our income situation (affected by the chronic illness), securing financing through a bank was difficult. There are also debt issues with my husband for these reasons. Therefore, we discussed within the family, and the younger family members used their own assets to pay the second installment. We did not pressure them; we had discussed the options early on, and the young people wanted to stay in the house. (The alternative would have been a sale and everyone moving out). Initially, a private loan agreement was made between us for the amount.
The plan was for the two to receive a certain share of the house in return. We have not yet decided on the percentage or amount. The two (the older child with their partner) would like to renovate the house to create additional living space and space for their business. An architect has drawn up plans for this, and the approval process is currently underway. They would finance the renovation themselves. If the plan is approved, we will have to make a final decision on the future of the house.
My plan was, until a few months ago, to keep the share of the house that our apartment represents and transfer the rest to the children. A small share to the child still studying, and a larger share to the other child. A larger share because money has already been paid, and because they intend to make investments. The reason the agreement has been relatively vague so far is that the plan is not yet certain to be approved by the authorities. There are many factors to consider, such as distances to neighbors, etc. However, there is another problem that makes the situation even more complicated. There are communication issues between the young people and us. Explaining the reasons and triggers would go too far here. The fact is that the envisioned model of a multi-generational house with equal owners will probably not work out. It is also a fact that my husband and I cannot maintain the house alone.
It is currently difficult for me to say whether we will continue to live together in the house in the long run. I would say the chances are 50:50, once some time has passed and minds have calmed down. But probably not as co-owners. Looking at it selfishly from our perspective, a free sale would probably be the best option for my husband and me now. Real estate prices in our area are high (suburbs of a major city), we could pay off the debts and maybe buy a small condominium a bit further out with the remaining money. However, this would leave the children without a home. I am very close to my family and am still trying to find another solution.
The only option then seems to be for the young people to take over the house and become the sole owners. This way, there would be no more power struggles, and the situation might ease. We would then become tenants or have a right of residence, making the situation clearer. However, the two are still in their mid-twenties and quite young. Due to their self-employment, securing a loan of such magnitude may be difficult, even though they have the financing for the renovation. But the amount is significantly smaller.
Naturally, we will need advice from a notary, tax advisor, etc. That much is clear. Nevertheless, I am currently trying to get an overview of the options available if we were to hand over the house to the children. No one should be taken advantage of. I have considered the idea of a traditional lease-purchase. This way, they would not need a bank for financing. A life annuity seems to be lifetime, which probably does not suit us since we are still relatively young.
But in our situation, does a lease-purchase have an advantage over a private loan? And does a lease-purchase even work if we ourselves also live in the house, or is it advisable? How would the installment payments be calculated in a lease-purchase? The examples on the internet usually involve commercial providers. It seems that in a lease-purchase, we could stipulate that maintenance falls under the responsibility of the buyers. This would be important to have clearly regulated. It seems that in a lease-purchase, it would be safer for the children to also redeem my mortgage, as otherwise, if I were to default, the bank could auction off the property without their input. Does anyone have any other information about this?
Its a bit difficult to find information about lease-purchase online, as the situations are usually different. Am I overthinking things, and would a private loan agreement be the better option? Perhaps someone has been in a similar situation and can share their experiences. Or maybe someone has ideas/opinions about this. I am grateful for any input.
Currently Im racking my brain for a good solution that works for everyone involved, which is why Ive signed up here. I hope that with a little input from outside, things may become clearer.
A few years ago, I took over my parents house, which is a multi-family home for three parties (including a small granny flat). My husband and I (both around 50 years old) live in the house. One of the apartments is occupied by one of our children with their partner (not married), while the other child lives in the remaining apartment. One child is still studying. The other child, in their mid-twenties, has finished studying and their partner is self-employed and financially stable. Currently, none of the children are paying rent to me. Both my parents have passed away. The house does not need immediate renovation, but there will be work to be done in the future regarding heating, the roof, and so on. The estimated value of the house was €200,000 at the time of the handover several years ago.
To take over the house, I paid out my sister in two installments. The first installment was paid immediately, financed by registering a mortgage. The second installment was due later. Due to my husbands illness, we were unable to save up the necessary funds for the second installment, and when the payment was due, the family discussed what to do. Given our income situation (affected by the chronic illness), securing financing through a bank was difficult. There are also debt issues with my husband for these reasons. Therefore, we discussed within the family, and the younger family members used their own assets to pay the second installment. We did not pressure them; we had discussed the options early on, and the young people wanted to stay in the house. (The alternative would have been a sale and everyone moving out). Initially, a private loan agreement was made between us for the amount.
The plan was for the two to receive a certain share of the house in return. We have not yet decided on the percentage or amount. The two (the older child with their partner) would like to renovate the house to create additional living space and space for their business. An architect has drawn up plans for this, and the approval process is currently underway. They would finance the renovation themselves. If the plan is approved, we will have to make a final decision on the future of the house.
My plan was, until a few months ago, to keep the share of the house that our apartment represents and transfer the rest to the children. A small share to the child still studying, and a larger share to the other child. A larger share because money has already been paid, and because they intend to make investments. The reason the agreement has been relatively vague so far is that the plan is not yet certain to be approved by the authorities. There are many factors to consider, such as distances to neighbors, etc. However, there is another problem that makes the situation even more complicated. There are communication issues between the young people and us. Explaining the reasons and triggers would go too far here. The fact is that the envisioned model of a multi-generational house with equal owners will probably not work out. It is also a fact that my husband and I cannot maintain the house alone.
It is currently difficult for me to say whether we will continue to live together in the house in the long run. I would say the chances are 50:50, once some time has passed and minds have calmed down. But probably not as co-owners. Looking at it selfishly from our perspective, a free sale would probably be the best option for my husband and me now. Real estate prices in our area are high (suburbs of a major city), we could pay off the debts and maybe buy a small condominium a bit further out with the remaining money. However, this would leave the children without a home. I am very close to my family and am still trying to find another solution.
The only option then seems to be for the young people to take over the house and become the sole owners. This way, there would be no more power struggles, and the situation might ease. We would then become tenants or have a right of residence, making the situation clearer. However, the two are still in their mid-twenties and quite young. Due to their self-employment, securing a loan of such magnitude may be difficult, even though they have the financing for the renovation. But the amount is significantly smaller.
Naturally, we will need advice from a notary, tax advisor, etc. That much is clear. Nevertheless, I am currently trying to get an overview of the options available if we were to hand over the house to the children. No one should be taken advantage of. I have considered the idea of a traditional lease-purchase. This way, they would not need a bank for financing. A life annuity seems to be lifetime, which probably does not suit us since we are still relatively young.
But in our situation, does a lease-purchase have an advantage over a private loan? And does a lease-purchase even work if we ourselves also live in the house, or is it advisable? How would the installment payments be calculated in a lease-purchase? The examples on the internet usually involve commercial providers. It seems that in a lease-purchase, we could stipulate that maintenance falls under the responsibility of the buyers. This would be important to have clearly regulated. It seems that in a lease-purchase, it would be safer for the children to also redeem my mortgage, as otherwise, if I were to default, the bank could auction off the property without their input. Does anyone have any other information about this?
Its a bit difficult to find information about lease-purchase online, as the situations are usually different. Am I overthinking things, and would a private loan agreement be the better option? Perhaps someone has been in a similar situation and can share their experiences. Or maybe someone has ideas/opinions about this. I am grateful for any input.
- By Alex [CryptoMod]