House selling legalities

Fire_Fox

Milliewilly wrote: »

Yes there can be claims on the estate to pay for nursing home care fees unless you live in Scotland. If the house is sold before a person goes into care its one of the first things Councils will look at unfortunately.

If you have claimed from the state all your life and have nothing to show you get looked after in your old age. If you have worked and contributed you get your house sold off for the privilege.

What use is a bricks and mortar when you are dead, why not use the money to pay for the facility of your choosing at the time of your choosing? You don't get to choose what level of care you receive if the state is funding all of it. It took several months to get my Grandma into a lovely care home from her hospital bed, she died three weeks later. At one point the powers-that-be were claiming she didn't need round the clock care as she was able to make a cup of tea. :rolleyes:

Milliewilly

What use is a bricks and mortar when you are dead, why not use the money to pay for the facility of your choosing at the time of your choosing? You don't get to choose what level of care you receive if the state is funding all of it.


I am not talking about the personal choice of funding a 'better private nursing home' versus a council run one for free.

The council will take the persons money for a council run nursing home that others in the same home get for free if they 'can't' pay.

You do get a choice of Council funded care home within the area and your individual care needs would be assessed by the nursing staff, doctors and social workers.

If you go into an NHS hospital would it be OK if you had to sell your house to pay for your treatment just because you have the means to even though you have contributed far more in taxes than someone on benefits who wouldn't have to pay?

kalaika

In addition to the above points on tax evasion, money laundering, etc, if you sell a house at considerably less than market value and then need to claim any kind of means tested benefits, you may be classed as having deliberately deprived yourself of assets and so your claim for benefits may be denied (see the guys on the Benefits board if you need more info).

PasturesNew

jenner wrote: »

so how does it work when those big companies like MG get sold for a pound

The deal ties them into spending a lot more than the quid though. Quite often they have to take on the debts, or (in the case of historical/old houses) spend £1million or more doing it up to a standard.

It's never just for £1.

thebigdipper

chappers wrote: »

It may be percieved that the registered house price is only part of the transaction and that there may be a cash deal going on simultaneously in the background.

e.g gangster x has £30k legitamate money he buys a house worth £150K for "£30k" but actually also hands over £120k in cash. He has bought a legitimate asset from someone else and created a legitimate asset for himself ,all be it with dirty money.
He then sells for £150k and has legitiamised £120k of dirty money.

That makes sense. Thanks for clearing it up.

So it seems like you can't simply give away control of your own assets without someone somewhere assuming you're doing something shady. What happened to owning something outright and doing with it what you want? Isn't that our right as the owner?

DVardysShadow

thebigdipper wrote: »

That makes sense. Thanks for clearing it up.

So it seems like you can't simply give away control of your own assets without someone somewhere assuming you're doing something shady. What happened to owning something outright and doing with it what you want? Isn't that our right as the owner?

There might be an assumption. But what really matters is whether there is a side deal or not. Unfortunately the onus is towards proving that there is not.

googler

thebigdipper wrote: »

That makes sense. Thanks for clearing it up.

So it seems like you can't simply give away control of your own assets without someone somewhere assuming you're doing something shady. What happened to owning something outright and doing with it what you want? Isn't that our right as the owner?

OK, let's assume nothing shady is happening and you have a house worth £150,000 that's your asset, and you want to sell/give/transfer to someone else for ... £100,000? £75,000? £50,000?

In these troubled times, why might you want to do this?