Name transfer help

lilmouk

Hi , my first post, was hoping you could help ...

basically my mum has a property that is registered in her name, but she would like to transfer the property into the names of her three children (Ages 24,19,15)

Just needed to know how she would go about doing this other than leaving the house to us in a will..she is very confused at the moment and if anyone could help it would be greatly appreciated!

Bossyboots

In theory, she can simply complete or have drawn up for her a form TR1 from the Land Registry website which is then signed and lodged with the Land Registry.

Does she have a reason for doing this now? There are some drawbacks, not least the fact that the three of you could then throw her out of the house if you fell out. If one of you was to divorce or become bankrupt the property would be taken into account. What if one of you then wanted to live there.

If your mum wants to do this, she should seek legal advice without any of you present to have all the pros and cons explained to her.

The property could still be considered part of her estate if she dies with seven years and in addition, if she requires care at any stage it could be argued that she had deprived herself of assets and the house could then still be taken to cover her care costs.