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transfering house to children

patsyfagan1 · 2021-10-18 10:47:33

Is it possible to transfer my house into my children's names to prevent my house being sold if I have to go into a care home. I do have some saved income. Do I add their names to the land registry or ?????

Comments

sheramber Posts: 23,261 Forumite

20 October 2021 at 7:49PM

If children already own their own house then they would have additional stamp duty to pay. plus the other buying expenses.

Would the children not have to pay tax on the 'rent' paid?

Parent may not need to go into care so all that money is lost for nothing.

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