owning a EU property and esa

xylophone

my parents to transfer back the ownership,

I don't quite see how your parents can now be involved in this as the property (apparently) now belongs to you and your siblings?

If you transfer your interest to anybody else you will be making that person a gift of your asset?

If your ESA is means tested then you could be considered to have wilfully deprived yourself of an asset to retain or increase entitlement to benefits?

silvercar

Some countries don't have a central Land Registry and some have deeds to individual properties only.

In some countries the law works very slowly and it may be that the 3 months that have elapsed is not sufficient time for the change in ownership to be registered. So any "error" could be corrected.

It may be that your parents could look into the law on trust in that country. (Over here a trust would be a separate legal entity and not be counted as your own property).

I very much doubt that the DWP over here goes searching title deeds overseas.

tomtom256

silvercar wrote: »

Some countries don't have a central Land Registry and some have deeds to individual properties only.

In some countries the law works very slowly and it may be that the 3 months that have elapsed is not sufficient time for the change in ownership to be registered. So any "error" could be corrected.

It may be that your parents could look into the law on trust in that country. (Over here a trust would be a separate legal entity and not be counted as your own property).

I very much doubt that the DWP over here goes searching title deeds overseas.

It's called fraud, no matter how much you put "error".

The DWP do and can search overseas deeds/titles if they need to, so any "error" could be still be picked up and if found correcting this "error" would make it look like the fraud it is and would make it look intentional.

You can do what ever suits your morals.

Ames

OP, I think you need to call the DWP tomorrow to tell them about it, then get to CAB or welfare rights about it. It's not as straightforward as it seems - even just how to value it is complicated. Is it 1/3 of the market value, or is it how much you can sell a third of a property for?

Also, if your parents are resident in this country and are suddenly getting rid of their assets that could cause problems for them, if it's in order to avoid care home fees or inheritance tax, for instance.

TELLIT01

Ames wrote: »

It's not as straightforward as it seems - even just how to value it is complicated. Is it 1/3 of the market value, or is it how much you can sell a third of a property for?

Actually, that part of it is straightforward. It is 1/3rd of the market value. The fact that it may be impossible to raise that value because the other owners are either unwilling to buy that proportion or to sell the entire property is not the problem of the DWP.