20 June 2007
My father, who was born 1919, sold his only residential property in 1985 and I purchased a new residential property at the same time financed by a small deposit from my own funds, a gift from part of his property proceeds and the balance by way of a mortgage from him. I allowed him and my mother to live rent free in the property as their only residence from the date of purchase. The mortgage was released by him for no consideration in 1987. I have never lived in the property.
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