Transfer of mum's property to me, her only child

Morglin

Councils, are , more and more, getting wise to all this - and going to court to get care costs paid by whoever benefited from the disposal of assets.

Courts appear to be siding with the councils.

Be very careful, and get expert advice..

Lin

swingaloo

Samos wrote: »

Hello

My mother (72 y/o) lives on her own in a suburban London property worth around £325k (no mortgage). I'm her only child, mid 30s.

We have talked about the possibility that one day she may need to go into a home, and how expensive that could be. Obviously she would like me to benefit from the home she worked so hard for years (as a teacher in London) to get.

She would like to pass ownership to me but still live there.

Could this be a good way of avoiding potential care home costs for her in the future.

Will my not living with her affect matters? Would it be better if I lived there too once I am the owner?

Currently I am renting in London which is expensive and I cannot afford to buy, especially as house prices are on the up.

Being a home owner could boost my mortgage chances however, and when the inevitable happens I will have a valuable property which I can sell.

I've been reading about 'deliberate deprivation' however am confused as to the best thing to do in this situation. We do not want to rip anyone off however we also want to be able to use the house for some personal future benefit.

Any advice will be much appreciated. Thanks in advance.

My parents worked hard to get thier own home but when my dad had to go into care 2 years after my mothers death the house had to be sold to help pay the fees - Why should you be in any different position. In an ideal world we would all love to inherit a house, it may not seem fair but why should the tax payer meet the cost of your mothers care when she has the assets to afford it herself just to safeguard your 'inheritance'.

Housing_Benefit_Officer

You may be prosecuted for fraud if your Mother disposes of her assets to claim care home costs.

However if you are a Conservative MP...

http://www.expressandstar.com/news/uk-news/2014/03/25/nightmare-ends-for-fraud-claim-mp/

http://www.bbc.co.uk/news/uk-politics-26729265

If our elected members do this sort of thing and not face any penalties can we blame members of the public for doing exactly the same thing?

Obviously an MP can afford better solicitors than us mere plebs.

Tombola591

swingaloo wrote: »

My parents worked hard to get thier own home but when my dad had to go into care 2 years after my mothers death the house had to be sold to help pay the fees - Why should you be in any different position. In an ideal world we would all love to inherit a house, it may not seem fair but why should the tax payer meet the cost of your mothers care when she has the assets to afford it herself just to safeguard your 'inheritance'.

I think some of us can see both sides. I would want my parents to have the best care. But from a parent's point of view, you want your children to be as secure as possible - and private renting doesn't generally allow for that.

Housing is becoming increasingly unaffordable (renting as well as buying) even on relatively reasonable salaries - especially for single people, and social housing isn't really available for most people any longer.