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Tenants in Common
Topic: Tenants in Common
Posted: 26/August/2016 at 17:36
I need help! My mother and myself purchased a property 5 years ago. I had never intended too but did as it meant she was able to put her settlement from her divorce with my dad into a house instead of paying tax on it. At the time I was a single mother on one income. Fast forward 3 years. I am now married with two incomes although my individual income is currently a fair bit lower than what it was when we first bought. My husband (before he was my husband) paid unclaimed "rent" to help us offset the mortgage. Once he became my husband this continued despite my thinking it should not. My mother thinks he is getting a free ride. So for the last 3 years, my husband has paid me his wife $150 a week rent which I don't have to claim as income because I'm his wife and my mother $150 a week rent which she doesn't claim even though she should. This means our total contribution is $600 a fortnight towards the mortgage payment which comes solely from my account but include the full $300 rent my husband contributes. My mother pays $300 a fortnight rent. Mum and I are tenants in common and have a 50% share despite myself not contributing to the deposit (however I lost my first homeowners and we got reduced stamp duty because of this). I believe my mother and I should be paying the mortgage 50/50 and my husband should be helping with my half. My annual income is $23,000 and my mums is $50,000 my husbands is $70,000. We also have kids. We all live in the same house but it is dual living upstairs/downstairs and completely seperate. I would prefer to sell but she doesn't want too and she won't even consider adding my husband on the mortgage.
Any advice would be great. Because Google has apparently never heard of this situation before?
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