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Right to Buy gift/loan - care implications?

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Ed-1
Ed-1 Posts: 3,892 Forumite
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in House buying, renting & selling
If I was to gift a relative money to buy their council house and thry subsequently go into a care home, is there any implications from the gift with regards to the state taking it? Would designating it a loan be better?

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  • da_rule
    da_rule Posts: 3,618 Forumite
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    If it is a gift then you have no to right to it and if forms part of the receipients estate for the purposes of means testing and inheritance tax etc.

    Be careful of making it a charge as only certain charges can rank in priority to the charge the council will have over the property.
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