Transferring deeds of House

[kirkstall chippie]

Any advice, my ageing mother is likely to end up in a home and I feel we need to transfer the deeds to myself and brother, however I get told the funds/house will be taken if it has not been done at least 7 years before, what should I do, how much will it cost...any quotes?

[becchio bear]

The 7 year rule is indeed correct. The firm I work for charge £250.00 plus VAT for a Transfer of Equity which in effect is what you would be doing.

[kirkstall chippie]

The 7 year rule is indeed correct. The firm I work for charge £250.00 plus VAT for a Transfer of Equity which in effect is what you would be doing.

Is it worth going ahead and taking the risk as she could be 1,2,3,4...years away from care, presumably the only risk is losing the fee?Is transfer of equity the same as putting the house deeds in our name?

[becchio bear]

Transfer of Equity means transferring the property for no fee. The property would pass from your mum into you and your brother's names. Yes it is worth taking the risk, I would for sure.

[kirkstall chippie]

Transfer of Equity means transferring the property for no fee. The property would pass from your mum into you and your brother's names. Yes it is worth taking the risk, I would for sure.

[kirkstall chippie]

What's your company's details, are there any hidden costs?

[becchio bear]

I've sent you a PM

[Twiggster]

Welcome to the MOT Legal Advice Center, Chippy!

Hope you have your Mum for many years to come, mate...

[Crude]

Is there any shed transference fee? How long and how many people forcibly kept in a shed before it becomes a legal residence?

[becchio bear]

Welcome to the MOT Legal Advice Center, Chippy!

Hope you have your Mum for many years to come, mate...

It's centre since when did you come over all yankee

[becchio bear]

Is there any shed transference fee? How long and how many people forcibly kept in a shed before it becomes a legal residence?

Leave my shed out of this sweatster

[Twiggster]

It's centre since when did you come over all yankee

Also Danish...Dutch...German - in fact only the english spell it wrong. And drive on the wrong side of the road.

[becchio bear]

Also Danish...Dutch...German - in fact only the english spell it wrong. And drive on the wrong side of the road.

We English spell it right and we drive on the right side of the road, well the left but you get the gist lol

[Twiggster]

We English spell it right and we drive on the right side of the road, well the left but you get the gist lol

Ah - the old "the whole world is wrong except the english" myth

[Ronan]

Giving money or property to other people

You may choose to give money or assets to your children or grandchildren. There is no monetary limit on gifts to your children, grandchildren or other relatives, but they may have to pay tax on any interest or income they receive.

If you give an asset to someone within the seven years before you die, the person who receives the gift may have to pay Inheritance Tax on it. It is against the law to transfer ownership of an asset to another person specifically to avoid paying your care home fees.

There is no time limit as to how far back a Trust can go to find out if you have given away assets to avoid paying care costs.

If this is found to have happened, the Trust can treat you as if you still had the asset and you will have to pay for your care accordingly.

If the transfer was within six months of you needing care then the Trust can recover the cost of your care from the person(s) who received the gift.

The law states that if you've transferred an asset to another person within the six months before you get a place in a care home, your local Trust can make you pay your care home fees.

Quote from Citizens Advice Bureau

[Gino 1959]

It is against the law to transfer ownership of an asset to another person specifically to avoid paying your care home fees.

Doesn't apply in Norn Ireland as you are closing your homes and kicking old people out onto the streets

[YorkshireSquare]

Also Danish...Dutch...German - in fact only the english spell it wrong. And drive on the wrong side of the road.

And the French! In fact it's derived from the Latin centrum and the majority spell it with the r after the t. Centre, centrum, zentrum, zentro, centro etc.

Stop being so anti-English for the sake of it!

[MeeTa]

And the French! In fact it's derived from the Latin centrum and the majority spell it with the r after the t. Centre, centrum, zentrum, zentro, centro etc.

Stop being so anti-English for the sake of it!

You do drive on the wrong side tho

[The Subhuman]

You do drive on the wrong side tho

there are historical factors at play there ..probably...

[Ronan]

Doesn't apply in Norn Ireland as you are closing your homes and kicking old people out onto the streets

Not me,m'lud...it's all Edwin's fault !!!!