Hello,
My mother-in-law is about to loose her house in a nasty divorce settlement. A friendly neighbour has offered us £50,000 to: a) Pay of the outstanding mortgage £14K, b) Make a cash settlement to the ex-husband £34K, c) Pay the legal costs involved £2K.
Unfortunately the neighbour is elderly, appox 80 yrs old, therefore there is a chance she may pass away sometime within the next 7 yrs.
What are the pit falls, can anyone give me some advise on how to get around this problem?
Many thanks...
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