House purchase from uncle - Monthly payment or take a loan?

??? ... that is not logical at all.

I suspect hampshire forgot the word "not" in "completely in your ownership"

that's right, sorry. I wrote nonsense because the "not" was missing. Thanks for watching out.

When you read this, it seems like no family in the world understands each other anymore and everyone is at odds because of money :oops: Somehow very sad assumption from everyone.

I just have to check if it can be recorded in the notary’s purchase contract that in the event of my uncle’s death, the property will not be revalued and I only have to pay the outstanding amount to the 4 cousins. Otherwise, I have no objection to option 1, because a loan with 0.5% interest will probably not be available.

Additionally, it can be written into the purchase contract that I can pay the remaining amount in full at any time or agree to higher monthly payments.

I would do that in two contracts. One is the purchase contract. Just the normal purchase price. The next is the loan agreement. With payment and registration in the land register, the property with the house belongs to you at the agreed price. In the event of death, you only owe the outstanding loan amount. Two processes cleanly separated. How the loan agreement is designed is up to you.

For variant 1, it must be precisely agreed in the purchase contract besides these payment rules that the land registry entry with you as the owner must be made immediately and only then the payments will be made.

I still find it more reasonable to have a purchase contract with immediate payment and you use part of your equity plus a loan for the payment. Because in the event of death, no special action is required, as all 5 cousins (including you) receive their inheritance shares. No one has to be paid out, no settlements, etc. And your uncle has free disposal over the purchase price just as you have free disposal over the house.

I am in favor of clear conditions. Taking out a loan and paying it out.

When you read this, it seems like no family in the world understands each other anymore and everyone is at odds because of money :oops: Somehow a very sad assumption from everyone.

That would really be a shame. I have three siblings and come from a fairly large family with many different approaches to life but little conflict. One basis for this is that we clearly regulate joint matters to prevent future room for interpretation. How easily memories can diverge without ill will has probably been experienced by everyone even in the best friendship in harmless situations. Clear rules regarding financial matters are therefore for me less a measure to protect myself, but more a measure to protect good community. This is much more important to me than a few thousand bucks.