Tenants in common

Madoldcatlady_2

Newbie grateful for advice please:
Pooling resources with my cousin and aunt to buy a biggish house outright, holding the property as tenants in common. The intention is that this will lead to a better life for us all as we can help each other out. Just to explain my aunt is disabled and needs a lot of care which I am intending to help with- my cousin is her main carer at present. I am a lone parent working part-time with a 6 year old child - my cousin has offered to help with school holidays etc. So in theory it should be a beneficial arrangement all round plus hopefully with shared bills etc. things will be a bit less hand-to-mouth as they are now.

The problem is my cousin has been advised that should my aunt deteriorate further in the future and need care in a care home then there is a possibility the LA could force a sale to meet the care costs from her share of the property. My aunt has no other assets that could go towards any fees and neither me nor my cousin have the means to buy my aunt's share to release the money.
Does anyone know if this is the case please? I have done some research but have not found anything definitive. We don't want to commit to something that may eventually lead to us losing our home- none of us a spring chickens and I am worried for my little one and my cousin is stressing as she feels she will be responsible bless her. I am aware there is the likelihood of a charge being placed so that the LA recover the fees eventually which is understandable, but never thought we could be actually be forced to sell.
Thanks for wading through this and any advice, especially from anyone who has been in this situation very gratefully received.

booksurr

if all 3 of you own the property and (crucially) it is the main home of each of you the council will not and cannot force your aunt to sell up and therfore cause you to lose your home


what the council would do is take a charge against HER SHARE of the house and then when your aunt dies or the house is sold they will then seek to recover any monies owed

how likely is it your aunt will end up in a care home anyway?

xylophone

There seems no reason why your aunt should not attempt to improve her life by buying into a more suitable house where her needs can better be met, ditto you and your cousin.

With the right house (with suitable adaptations) and her daughter and niece living with her, she might never need to consider going into care.

The house will be your home and that of your cousin and you will have your own legal interests in the property and cannot be required to sell.
The other point to consider is that the value of the property would need to be considered on how much a willing buyer would be prepared to pay for a third interest with sitting co-owners - not too much perhaps?

On that basis, it might be that the LA would disregard the property in any assessment?