Which child does the father’s house pass on to? Does anyone care to give me a hand as to how to approach this complex legal issue below in relation to property law? - Which person owns the property? [Excluding succession and assuming Ben has legal capacity]
Steve owns a house in Queensland and has two children called Phillip and Ben.
Steve paid approximately $600,000 for the house. $200,000 out of pocket and the rest was borrowed from a bank who now has a mortgage over the property for that particular amount.
Phillip and Ben have both lived for five years pursuant to the agreement which is not actually documented with the father. Phillip must under that, pay monthly repayments on the house of $1,000 each week. Steve promised that when the mortgage is paid, he will transfer the house to Phillip. This has not been written down. Steve has altered the council address for the registered proprietor of the property to include Phillip. Steve has never lived anywhere else and Phillip pays the council rates and routine maintenance on the improvements.
As Ben helped his father get a job, Steve said that he would transfer the Groomsville house to him. A transfer form was signed and posted it to him and Ben then placed this in safe keeping. Ben paid approximately $10,000 for a new walkway at the front of the property making it a more valuable property. As Ben and Steve are close, Ben was aware of the arrangement between Phillip and Steve. Ben did not tell Phillip about Bob’s steps to transfer the property to him.
Steve has recently become ill and may pass away soon.
Who is likely to get the property?
Steve owns a house in Queensland and has two children called Phillip and Ben.
Steve paid approximately $600,000 for the house. $200,000 out of pocket and the rest was borrowed from a bank who now has a mortgage over the property for that particular amount.
Phillip and Ben have both lived for five years pursuant to the agreement which is not actually documented with the father. Phillip must under that, pay monthly repayments on the house of $1,000 each week. Steve promised that when the mortgage is paid, he will transfer the house to Phillip. This has not been written down. Steve has altered the council address for the registered proprietor of the property to include Phillip. Steve has never lived anywhere else and Phillip pays the council rates and routine maintenance on the improvements.
As Ben helped his father get a job, Steve said that he would transfer the Groomsville house to him. A transfer form was signed and posted it to him and Ben then placed this in safe keeping. Ben paid approximately $10,000 for a new walkway at the front of the property making it a more valuable property. As Ben and Steve are close, Ben was aware of the arrangement between Phillip and Steve. Ben did not tell Phillip about Bob’s steps to transfer the property to him.
Steve has recently become ill and may pass away soon.
Who is likely to get the property?
