Buying house for some one else.

[shoehorn]

My father in law has a council house that he has occupied for sixty years,
They now want him to move to a one bedroom place and will probably force him eventually anyway but he wants to stay.
My wife would like to but it for him and then to keep it for family members use,plus her and her fathers own childhoods were there.
As he is retired with little collateral his chance off borrowing the money is zero.
So what pitfalls,snags,costs and possible other unknowns would you encounter if you were to give the
money to him to pay for the house using his discount,we do not want title to the property.
Sorry if the spelling is bad,We have started new years eve early

Edited by shoehorn on Monday 31st December 15:32

[Eric Mc]

You can give him whatever cash you want. Once he has the cash, he can do with it what he wants - which could include buying a house. Just don't die within seven years.

What about buying the house yourselves and then renting it to him at a rent he can afford?

[GTIR]

Are you Australian?

[barker22]

I'm sure he will be entitled to buy it at a heavily reduced rate aswell having lived there for so long