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I own a foreign property with two siblings. 15 years ago due to mortgage increases, I could no longer afford a rental property I also owned and had to sell it. It was in negative equity.
My sibling agreed to give me money to pay the bank and cover the negative equity in exchange for my share in the foreign property. I agreed, money exchanged & bank paid.
I did not legally transfer the property into my siblings name, it was a family agreement that if sold, my share belongs to them.
My ex is well aware of this agreement as we were happily married at the time.
Do I have to declare this foreign property, which I own on paper but have a verbal agreement that it belongs to my sibling? Does it have to go into the D81 as it will make me look like I have an asset, but in reality I don’t.