I would like to know what it will entail if I and my husband rent a property from my parents, with an option to purchase when we can afford to do so.
The outstanding bond is fairly substantial and my father wishes to retire soon. The bulk of his pension would be consumed in settling the outstanding bond.
The property includes a small apartment attached to the main dwelling where my parents can continue to live.
This will allow them to use their retirement savings for living expenses rather than for paying off bond instalments.
Sharing Family Property
See what the experts have to say.