Hire purchase, kinship, order and experience

A very good morning,
yesterday my wife and I were at my father-in-law's.

He has an older building that he wants to tear down and rebuild.

He would cover all the construction costs and we could live there.

We would pay a monthly amount X, but this goes into the house, meaning we are financing it through my father-in-law, after payment or death it belongs to us.

Everything will be arranged with the notary etc., what are your experiences with this and who or what is the best order now?
Architect, notary, tax advisor etc?

Best regards, Tobi

Construction contractor, bank, tax consultant, notary

, what does the bank have to do with that?

Is it certain that the father-in-law is really building according to your wishes? I wouldn't feel like having to argue with my about whether this or that feature gets installed. But mine is a special case too.

, what does the bank have to do with it?

Is it certain that the father-in-law is really building according to your wishes? I wouldn't feel like having to argue with mine about whether this or that feature is installed. But mine is a special specimen.

Financing?? Or the father-in-law has too much cash

Then
Builder, tax advisor, notary

If he builds an EL:
Tax advisor, notary

The house is being built according to our wishes. Most of it will be paid without financing, thank you very much for your answers already.

Good morning,
yesterday my wife and I were at my father-in-law’s.

He has an older building that he wants to tear down and rebuild.

He would cover all the construction costs and we could live there afterwards.

We would pay a monthly amount X, but that would go into the house, meaning we are basically financing it with my father-in-law, and after repayment or death, it belongs to us.

Everything would be settled by a notary, etc. What are your experiences with this and who or what would be the best order now?
Architect, notary, tax advisor, etc?

Best regards, Tobi

As nice as that sounds, it’s nothing different than paying rent now.
I don’t know how old your father-in-law is. But during his lifetime, so much can happen that this arrangement could blow up in both your and your father-in-law’s faces.

It’s his money, so he can and will build according to his own wishes.
If you fall out, you get nothing. Which can happen quickly.
You will have to be nice to your benefactor for life, even if you might not feel like it.

Personally, it would be too much dependency for me, even if you mainly just pay rent as mentioned above.

Also, the word “financing” surprises me. For example, I wouldn’t take out a 400k€ loan for a house, painstakingly pay interest and principal, and have my children pay me a pitiful rent of x€.
From my point of view, rent-to-own only makes sense for the “seller” once the place is fully paid off.

It all sounds like an ill-thought-out, last-minute idea to me.