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Signing over a property

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  • sevenhills
    sevenhills Posts: 5,938 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Pixie5740 said:
    Not this old chestnut.  Whatever your mother is attempting to do is almost certain to fail in protecting any of your financial interests.  

    You were rather quick to judge, Mum could be 50/60 years old.
  • rexmedorum
    rexmedorum Posts: 782 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    edited 21 November 2021 at 5:47PM
    gosh that was quick. You do realise the tax implications? Capital gains, extra stamp duty etc.
  • Darn, I wish we could all protect our financial interests in the same way 🙄🙄🙄

  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Pixie5740 said:
    Not this old chestnut.  Whatever your mother is attempting to do is almost certain to fail in protecting any of your financial interests.  

    You were rather quick to judge, Mum could be 50/60 years old.
    Same principles apply. 
  • Pixie5740 said:
    Not this old chestnut.  Whatever your mother is attempting to do is almost certain to fail in protecting any of your financial interests.  

    You were rather quick to judge, Mum could be 50/60 years old.
    Crikey! That's my age. Don't think I will be handing over my house to my kids to 'protect' my financial interests. 
  • Pixie5740
    Pixie5740 Posts: 14,515 Forumite
    10,000 Posts Eighth Anniversary Name Dropper Photogenic
    edited 22 November 2021 at 10:11AM
    Pixie5740 said:
    Not this old chestnut.  Whatever your mother is attempting to do is almost certain to fail in protecting any of your financial interests.  

    You were rather quick to judge, Mum could be 50/60 years old.
    What does mum’s age have to do with the price of fish? All too often people think they are being clever and try to DIY the management of their estates only for it end up backfiring in spectacular fashion. As if simply transferring the ownership to your offspring will achieve what it is you ultimately want to achieve unless what you want to achieve is a financial ballache. 
  • Pixie5740 said:
    Not this old chestnut.  Whatever your mother is attempting to do is almost certain to fail in protecting any of your financial interests.  

    You were rather quick to judge, Mum could be 50/60 years old.
    If anything giving away your major asset at that age would be even dumber than doing it later in life. Many more years for things to go wrong, and more time to build up a substantial capital gain liability
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