Thanks Michael, she is as far as we know in very good health and in early sixties so potentially a very long time away from the end so to speak. Who is likely to put up this offer then? And would they effectively be paying for my husbands share as and when it became free?
Exactly. So say for example your husband's share would be worth £50,000 when he eventually receives the money an investor may buy his share for £10,000. They would do their sums and make assumptions on property value increases and calculate that if she died before say 80 and property prices rose by 3% per year then they would be in profit but if she lived passed 80 and/or property prices fell they would make a loss.
In the 1980s there was a huge market in the sale of insurance policies for those with AIDS. As most were gay men with no dependents they sold their policies to investors so as to use the funds to make their remaining months comfortable. The new owners of the policies would continue to pay the premiums and then be paid on death of the sufferer. As AIDS was untreatable at this time the value paid for the policies was high in relation to the death pay out as the purchasers expected to be paid soon. Unfortunately for them the improvement in medical care meant that many AIDS patients did not die and went on to live for a long time. The purchaser had to continue to pay the premiums or they would lose everything and many were forced into bankruptcy or other forms of insolvency.
There are investors out there for everything and for some of these people everything has a price. Not my cup of tea though.
Thanks Michael, didnt realise there were such people out there. Certainly wouldnt be my cup of tea either but each to their own.
we have an appointment on Monday so am hopeful things will be a little clearer and we can move forward to a final closure, everything croseed that a solution can be found and the creditors will see we have made all payments and the inheritance issue is an genuine mistake and perhaps an offer can be made in lieu of this.
