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PwoperNaughtyButNot 8:36 Tue May 30
Transferring a house
My old mum is knocking on and the election campaigning stuff has got her thinking about her gaff.

In her words "I don't want the state taking my house"

What are her options? Can she sign the house over to me to keep it safe should she need care? Can she put in trust? Are those buy your house and rent it back to you schemes a scam?

Replies - Newest Posts First (Show In Chronological Order)

, 6:26 Tue May 30
Re: Transferring a house
The council do not come after anyone for the house they put a charge on the estate. I know someone going through the process right now.

What this chap did was rent out his mother's house, in order to use the rental to part pay for care, and agree with the council the charge they had on the estate.

Gerry Mandarin 6:18 Tue May 30
Re: Transferring a house
All the clever ones transferred years ago. If she goes into council care the council will come after you for the house, the loopholes are now shut. Any solicitor will tell you the same.

Bertolli 4:07 Tue May 30
Re: Transferring a house
Looking after your parents yourself is easier said than done. Of course we should all be hoping this is the best possible scenario, if they become unhealthy, but in reality this is not always possible. Carrying/washing a baby is a hell of a lot easier to carrying your old man who is 16 stone plus! Help at home is probably the best option, but still very costly.

arsegrapes 3:55 Tue May 30
Re: Transferring a house
Tell old mum she better be nice to you and leave you every penny as you get to choose her nursing home. Don't want her tortured by some Bosnian's.

Vexed 3:30 Tue May 30
Re: Transferring a house
That figure ( which sounds extremely low and I'm not sure I believe) will certainly rise over the next decade unless HMRC adjust their thresholds.

, 3:26 Tue May 30
Re: Transferring a house
vexed, inheritance tax will not affect the estates of the vast majority of people in this country. The OBR calculates that 8% of estates will be liable in the year 2016/17.

Vexed 3:21 Tue May 30
Re: Transferring a house
I think it's more the liberty taking government claiming people's hard earned cash from stuff they've paid tax on about seven times over already. Inheritance tax is a disgrace really.

, 3:17 Tue May 30
Re: Transferring a house
The state will not be taking your mum's house you can reassure her about that. The question is should the state use some of a person's wealth to pay for their care and the answer is yes especially in the case of property wealth where that accumulation has come about unearned.

I can well understand how potential inheritors can become concerned by seeing their windfall reduce year by year.

stoneman 3:13 Tue May 30
Re: Transferring a house
I agree Wiltell, I would never put my parents in a home.
They raised me for 18 years and make sacrifices for me so why dump them in a home and expect everyone else to pay for it?

I'm also annoyed at the phrase " dementia tax "

I still think we should look into being able to die with dignity, if I get dementia I don't want to live or be a burden to my family so why not allow me the chance to end my life how I choose?

Vexed 3:08 Tue May 30
Re: Transferring a house
Lots of people transfer 90% of the property to kids and make the kids sign a declaration that they won't turf them out. This covers costs of care etc without the government mugging them off for their house. See a solicitor.

Mace66 1:29 Tue May 30
Re: Transferring a house
good point Willtell

Willtell 1:18 Tue May 30
Re: Transferring a house
You're all ignoring my point but seriously, what happened to old family values where Mum's were looked after by the kids not the state...

Spandex Sidney 1:14 Tue May 30
Re: Transferring a house
Definitely see a specialist in this area of the law. She isn't exactly the first person to think she can do this.

The bottom line is the entire system is set up to prevent her doing this.

Jim79 1:07 Tue May 30
Re: Transferring a house
Speak to an estate planning specialist. Best option is likely to be an Asset Trust. She can put her house, pension (should she have one) and even stipulate a bank account in there. Cost to set it up is around £3500 but protects all those assets from being drawn against when applying for state provided financial support for care.

Willtell 12:55 Tue May 30
Re: Transferring a house
Surely the whole point is that your mum's house won't be taken off her unless she needs residential care in which case she won't be needing it.

Why should my taxes pay for your mum's residential care so that she can give her house to you?

Bertolli 12:02 Tue May 30
Re: Transferring a house
If she signs the property over to you and still lives in it, then you need to show that she has been paying market rent.
Be careful of the deprivation of assets rule... No matter which Government gets in, this will be a big issue for someone to tackle, and you are not going to keep everyone happy.

Chigwell 11:55 Tue May 30
Re: Transferring a house
It's she who needs the legal advice, not you. After all how does she know that you're not going to sell the house and buy some cruises, or go bankrupt and have it taken off you by creditors etc.? (What with your reputation and all....)

penners28 10:56 Tue May 30
Re: Transferring a house
my old dear was looking into this. there is a way round the 7 year rule by transferring part of the property apparently...

onsideman 10:18 Tue May 30
Re: Transferring a house
Yes, but she'll still need to live somewhere, right? If she stays there she will need to pay you a market rent to avoid any problems later. Other posters are right...a few hundred quid spent on a solicitor now would be a good investment

Moore4Less 9:42 Tue May 30
Re: Transferring a house
If there's no mortgage, you can do it itself https://www.gov.uk/registering-land-or-property-with-land-registry/transfer-ownership-of-your-property.
When you've completed the necessary forms, you'll need to make an appointment to see Land Registry and if the house is worth under £500,000, it'll cost about £80.

You'll have to see a solicitor If there is a mortgage.

hammer205 9:26 Tue May 30
Re: Transferring a house
I'd see a solicitor
Edwards Duthie in Wanstead

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