Mortgage paid name on the deeds do we need to engage a solicitor

loubel

Transfering the house to him after death is no harder than doing so now and likely easier if you own as joint tenants as all he will need to do is send the  death certificate to the land registry.

Giving away your home now is unlikely to be in your interests

kimwp

Hmm, hopefully others will correct me if I'm wrong, but I think setting up the ownership to be 50:50 (assuming that's what you did), but your son paying for everything has meant that he's effectively been adding to your estate.

So worst case, if you go into a home, he/you will need to fund your care fees (by directly funding or through a charge on the house) until enough has been spent to bring your assets (IE half the value of the house) below £23000. 

I think it would have been better to reflect his larger contributions to the house with a much larger percentage ownership. Maybe that could be done now? Not sure if it would still be considered deprivation of assets though.

Grace007

So have I got this correct.  If I had to go into a care home would my Son be forced to sell our home, his only home to pay for care, 

Keep_pedalling

Grace007 said:

My main property,   market value, £130,000      no other assets just state pension.

What about the house you co own with your mother?

https://forums.moneysavingexpert.com/discussion/6561152/stamp-duty#latest

Grace007

Keep_pedalling said:

Grace007 said:

My main property,   market value, £130,000      no other assets just state pension.

What about the house you co own with your mother?

https://forums.moneysavingexpert.com/discussion/6561152/stamp-duty#latest

The only property we bought was the former council home which we have now paid off the mortgage it was decided he  could not afford  buying another property the council property is our only home.  IT was a joint mortgage at teh time.

Grace007

loubel said:

Transfering the house to him after death is no harder than doing so now and likely easier if you own as joint tenants as all he will need to do is send the  death certificate to the land registry.

Giving away your home now is unlikely to be in your interests

Thanks for the reply if thats all it is will do that, just wanted it smooth for him,  as its his only home, could he forced to sell our (HIS) home   to pay for me his Mothers care home fees.

RAS

Do you own this property as a joint tenancy or tenants in common?

Grace007

RAS said:

Do you own this property as a joint tenancy or tenants in common?

RAS said:

Do you own this property as a joint tenancy or tenants in common?

Its a former council house we bought on RTB as it was cheaper on a mortgage that rent.    Mortgage was a joint me with the RTB entitlement and my Son as the wage earner, Mortgage is now  paid off in full.

bobster2

Grace007 said:

RAS said:

Do you own this property as a joint tenancy or tenants in common?

RAS said:

Do you own this property as a joint tenancy or tenants in common?

Its a former council house we bought on RTB as it was cheaper on a mortgage that rent.    Mortgage was a joint me with the RTB entitlement and my Son as the wage earner, Mortgage is now  paid off in full.

What @RAS was asking is about how you and your son own it. I know the word "tenant" makes it sound like renting but it's nothing to do with that. Two people can own a property as "joint tenants" or "tenants in common".

https://www.moneysavingexpert.com/mortgages/joint-tenants-tenants-in-common/

Grace007

Thanks for the reply, so  could he forced to sell our (HIS) home   to pay for me his Mothers care home fees

joint tenants both of mortgage