Hi guys. I currently own a property jointly with my wife as an SCI. We are considering selling up to raise cash but are reluctant to do so as we so love the property. Is there a way of adding a ‘sleeping partner’ to the SCI who would simply benefit from the sale of the property when we eventually sell up, but have no say in the day-to-day management and allow us to carry on exactly as we are now… visiting the property 6 times a year? I suppose it would be similar to an equity release scheme. Thanks for your thoughts on this.
Hi, welcome to SF.
Is this the SCI you’re talking about? And how would it work with the sleeping partner?
You can add an associate who contributes money for their share, but I’m not sure you could insist on them having no role in decision making, or not be able to share in the use of the property.
Depending on your age, and whether you wish to pass the property on to you inheritors, you could also consider selling the SCI en viager.
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