Pensioner has PC stopped due to property hand over

dseventy

Can't you sell the house for whats its worth given its current state, and then pass this to your mother?

There is equity here, even if the house burned down to nothing there is the plot, the land plus the re-build potential value.

D70

countrybelle

Thanks for all your replies!

I did suggest this, she wants no part of the money, she considers it 'bad luck money'.

I guess we will appeal and explain the situation fully and see what they say.

It's never easy!

Rene

RAS

Hi

Bad luck money of not, they will not pay her pension credit.

Your best bet is to get a low valuation that massively reduce the amount of capital they assume that hse has. That may run out eventually.

real1314

RAS wrote: »

Hi

Bad luck money of not, they will not pay her pension credit.

Your best bet is to get a low valuation that massively reduce the amount of capital they assume that hse has. That may run out eventually.

Now that the asset has been transferred, I don't think it can be re-valued for the benefit claim. Otherwise an asset that increased in value could be reviewed years later based on a re-valuation and then used to reduce/refuse a benefit claim.

Once the transfer was done I think the valuation is set.

Caz3121

reneobscene wrote: »

I did suggest this, she wants no part of the money, she considers it 'bad luck money'.

That is her right however it appears she is willfully giving away £100k+ and will be treated as if she has this money so she will be unable to claim means tested benefits so will likely need the money from the sale

Oldernotwiser

reneobscene wrote: »

Thanks for all your replies!

I did suggest this, she wants no part of the money, she considers it 'bad luck money'.

I guess we will appeal and explain the situation fully and see what they say.

It's never easy!

Rene

She doesn't need to receive the money directly but you'll need to realise it's value and support her with the money because she won't, fortunately, win the fight.

countrybelle

I wonder what would happen if I bought it from Mum? Obviously a sum taking into account of what I have spent to date sorting out the affairs and allowing a margin for potential loss of value.

What do you think folks?

Oldernotwiser

How can you buy it from her when you already own it?

countrybelle

Cause she signed over to me, but the land registry bit is still in her name. As it's for sale, there is no point changing the deeds, the estate agent said it would get too complicated and delay any potential sales.

nannytone_2

you wouldnt be able to buy it for a 'silly' amount.