Can you give away your house?

McKneff

wise_fool wrote: »

Yeah, so do I. Nothing like getting your hands on the house before the old codger leaves it to the cat's home.

So thoughtful to want to spend money improving it. :T

Not nice, not helpful, you got half your user name correct then.

wise_fool

Oh how very original. :rolleyes: And what do you bring to this thread that is of any relevance? I suggest you go and get yourself a life.

consultant31

wise_fool wrote: »

Oh how very original. :rolleyes: And what do you bring to this thread that is of any relevance? I suggest you go and get yourself a life.

When you consider the difference in the number of posts by yourself and McKneff alone, you can easily see who's brought most to these forums.

It is pointless replying to a post unless you have something useful to say. On the question of originality, how original is it to say "go and get yourself a life"?

wise_fool

I'm sorry I didn't think it was against forum rules to have a point of view. Are you and your friend the self appointed forum judge and jury on what's appropriate to post?

consultant31 wrote:

It is pointless replying to a post unless you have something useful to say.

Um, yeah quite right. So what brings you to the party then? :rotfl:

sloughflint

tsstss7 wrote: »

Op could you not buy a share of the property thus giving your grandad cash to do up the house?

What if OP got divorced or went bankrupt though? Cash would be nice but the grandad needs to be secure in his own home.

margaretclare

I am always amazed by people who say they want to give away their house. Where, pray, are they going to live?

This is a huge step to consider. Often there is a 'hidden agenda', and reading post # 1 again I am not sure who is proposing this step, whether it's Grandad or the OP. Grandad is aware that there are repairs, redecoration, modernisation even that needs doing, but he lacks the readies to get them done. Was his suggestion 'I'll give the house to you and you can do it up, after all it'll be yours in the future' or was it the OP? Am I becoming impossibly cynical? Why can't I believe any more in the 'milk of human kindness'? Probably because all that I see and hear in this wicked world engenders scepticism. I didn't use to be like this, but then, maybe I was impossibly naive in those days and have learned a lot from DH, who is the world's worst self-declared 'born again cynic'.

consultant31

wise_fool wrote: »

I'm sorry I didn't think it was against forum rules to have a point of view. Are you and your friend the self appointed forum judge and jury on what's appropriate to post?

Oh please, I wouldn't be so rude as to appoint myself judge and jury on any matter.

To answer your question (unlike you I do answer questions put to me) - of course it's not against forum rules to have a point of view, people ask questions in order to get other peoples slant on their problem. I do think though that your point of view was meant to be inflammatory.

However, it is against forum rules (and the rules I like to live by) to be unpleasant for absolutely no reason other than to stir up an arguement. If you look to the right of your screen you will see this message "Pls be nice to all MoneySavers. There's no such thing as a stupid question,and even if you disagree, courtesy helps".

wise_fool

consultant31 wrote:

Oh please, I wouldn't be so rude as to appoint myself judge and jury on any matter.

To answer your question (unlike you I do answer questions put to me) - of course it's not against forum rules to have a point of view, people ask questions in order to get other peoples slant on their problem. I do think though that your point of view was meant to be inflammatory.

However, it is against forum rules (and the rules I like to live by) to be unpleasant for absolutely no reason other than to stir up an arguement. If you look to the right of your screen you will see this message "Pls be nice to all MoneySavers. There's no such thing as a stupid question,and even if you disagree, courtesy helps".

What exactly is your question then?

With regard to courtesy, perhaps you could remind the rules to your friend that you rushed to the assistance of:

McKneff wrote:

Not nice, not helpful, you got half your user name correct then.

Or do the forum rules not apply to them?

Saver-Rob

My question would be - OK, so you cannot give as a present more than x amount per year (or it is subject to inhertiance tax etc), but what if he legally sold it to her for £10. Would she be liable for anything if he died within 7 years, then?

localhero

Saver_Rob_ wrote:

My question would be - OK, so you cannot give as a present more than x amount per year (or it is subject to inhertiance tax etc), but what if he legally sold it to her for £10. Would she be liable for anything if he died within 7 years, then?

The undervalue in price paid would still be regarded as a gift. If the grandparent still occupied the property then the value of the gift would be added back into his estate for IHT purposes however long he survived.

In any case, IHT isn't really the problem. If the grandparent required long term care the local authority would argue that a deliberate deprivation of assets had occurred and would disregard the gift.

There are many other issues as well made in the posts above.