Long story short mum vendor financed a property in trust of me.
I had used my equity from my ex & my old home, initially but he wanted out,
so 2nd round of INVESTMENT STAMP DUTIES PAID & legal fees, I had increased the value from $225,000 on initial purchase.
Mum financed me to purchase my own property back off him and pay him out at $355,000.
This gave me $112,000 (30%) Equity, which the young conveyancer decided to write up as DEPOSIT (Max Deposit allowed 10%)
She then wrote the Title up as Mums Investment Property with no entitlement or interest registered to me.
After a few years bashing my head against walls trying to get finance, I decided to dig deeper.
The Title should have been in my name even when my ex had purchased it in trust of me in 2006.
The 2nd contract never had to happen.
I have begged the legal firm to relodge with a General Request but they told me ás they worked for him they could not assist me’.
I asked him to call but USELESS thats why he is single. So now following a Material Change of Use, to a Residential Boarding House / Community Residence upstairs with 6 bedrooms kitchen & bath, along with a 2 bed caretakers residence downstairs complete with own kitchen a& bath. Property is valued between 500-600k, loan of $250 (additional collateral debt created from it DRAGGING OUT SOOOOOOO LONG but totalling $340k, still do able, but now mum has nose out of joint wants more money wont sign the forms either. Currently has for sale on fence for $395k from the same agent that gave it 580-650k CMA.I need help, Queensland property, need a bull dog of a lawyer…. are you out there????
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