Can I buy my grandparents house and let them live in it?

blue_eyed_girl123

Is there still an outstanding mortgage on the property?

benjus

HappyMJ wrote: »

Yes you could voluntarily go to immigration and state that you are a national of whatever country you wish to get returned to and you are willing to return "home" at the taxpayers expense. You might need to find someone who looks similar to you on Facebook in that country whose identity you will need to borrow. Say you've been working illegally and they'll arrest you and remove you back to that country. You'll have to say you've lost your passport and don't have any documents which many illegal immigrants who wish to stay don't have. You can get help from a charity called choices to get the documents for the person whose identity you are borrowing. If you're white British a good choice of country to say you're from would be Australia, New Zealand, Canada or the USA. Once you're in the destination country have a holiday for a while then approach their immigration department and say you're from another country and get removed there at that country's expense and when you want to come home just do the same say you're British and you've entered the country to work and have no visa and you'll get flown all over the place for free.

You mean like this?

http://www.tvspots.tv/video/34264/carlsberg-uk--antigua

getmore4less

If they sell the house to you at full market value with a life interest(no rent) then they get the cash

No deprivation of assets at that point.

You get CGT protection from the life interest.

There are IHT issues but if they only have £80k they won't come into play.


As you point out deposit and mortgages will be the issue.

Mojisola

fiffio wrote: »

They are the sort who say they have enough money to cover thier own funerals but want the house to be gifted down as they have worked thier whole life for it.

getmore4less wrote: »

If they sell the house to you at full market value with a life interest(no rent) then they get the cash

But if family members buy the house, it won't be 'gifted down'.

If the couple have the money from the sale, they will have to contribute towards any care needs and may not be able to claim benefits that they would otherwise get.

If they sell the house and then give some or all the money to the relatives who bought it, they run the risk of claims of deprivation of capital.

If the older couple have been in the house for years, they will have benefited from the rise in house prices so its present value won't be down to what they paid for it.

SnooksNJ

HappyMJ wrote: »

Yes you could voluntarily go to immigration and state that you are a national of whatever country you wish to get returned to and you are willing to return "home" at the taxpayers expense. You might need to find someone who looks similar to you on Facebook in that country whose identity you will need to borrow. Say you've been working illegally and they'll arrest you and remove you back to that country. You'll have to say you've lost your passport and don't have any documents which many illegal immigrants who wish to stay don't have. You can get help from a charity called choices to get the documents for the person whose identity you are borrowing. If you're white British a good choice of country to say you're from would be Australia, New Zealand, Canada or the USA. Once you're in the destination country have a holiday for a while then approach their immigration department and say you're from another country and get removed there at that country's expense and when you want to come home just do the same say you're British and you've entered the country to work and have no visa and you'll get flown all over the place for free.

If you are a landlord why bother with facebook? With the immigration check you can have all sorts of information to take to that charity to obtain someone else's identity.

teddysmum

Another point: If the couple keep the house and one goes into care , if they have little other capital, the care will be 'free' (pensions go towards keep), as the house is disregarded unless the other person also needs residential care.


However,if they have £35,000 each from the sale of the house , then this is over the limit (£23,250) where any financial help is given and they would have to self fund in full.


Also, if the £70,000 is in a joint account they will be expected to self fund until the total is down to £46,500 and not £48,250(£35,000 + £23, 250).

Ladyblueyes

Might be better for your grandparents to settle house into a trust rather than sell to you , they can be accused of trying to evade care home fees and the house could be taken anyway a trust will keep house safe for beneficiaries and them

Daniel54

Ladyblueyes wrote: »

Might be better for your grandparents to settle house into a trust rather than sell to you , they can be accused of trying to evade care home fees and the house could be taken anyway a trust will keep house safe for beneficiaries and them

Tranferring ownership into trust would still be deprivation of assets.

theartfullodger

Decency, fair play, paying what is fair.... Sigh!

martindow

I think care costs are covered more generously in Scotland than the rest of the UK. If this is the case the proposed scheme would be pointless, in any case.