can i sell a house for a £1

smellyelle109

can any one tell me if i can sell my house for a pound??
to a family member??

dane-katie

Im guessing this is in the wrong place, unless your wanting to sell your house to be able to gain benefits?

withabix

As you've posted this on Benefits and Tax Credits, why do you want to do this?

Are you trying to get free accommodation in one of Her Majesty's Institutions?

dmg24

You can sell your house for a cabbage if you wish to, but as others have said, the transfer of ownership may not achieve the result you are aiming for.

dmg24

I am guessing this has something to do with it ...

https://forums.moneysavingexpert.com/discussion/2498487

smellyelle109

soory in the wrong section people

lovetowinacar

Why don't you advise your mother to sell her inherited house on the open market and then live off the money to supplement her small income?

That way she doesn't get in trouble by trying to gain benefits by selling her house for a £1 and she will receive a nice amount of money to live off - (even if the house is very basic in many parts of the country will still go for a reasonable sum).

simples:)

AnxiousMum

I guess what she would have to look at is this.....would she sell it to a total stranger for £1 and pay a market rate rental for the place to the new owner? I didn't think so......so by doing this with a family member would most likely be considered deprivation of capital, and she would be considered to have access to the equity that was in the house that she 'chose' to give away.