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what are the restiction on giving my house to my two sons and

 
Law Denning's Avatar
  • Answered by:Law Denning
  • Solicitor
  • Positive Feedback: 96.4 %
  • Accepted Answers: 2011
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in UK Property Law

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what are the restiction on giving my house to my two sons and my daughter l am 81 years old and suffering in health and strongly object to the thought of having to sell my house to pay for nursing care

 

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Province/Country relating to question : nottinghamshire

Already Tried:
noth ing aneighbour told me that there mother and passed their house to him and his sister

Submitted: 274 days and 2 hours ago.
Category: UK Property Law
Value: £22
Status: CLOSED
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Expert:  Law Denning replied 274 days and 2 hours ago.

Do you own your property solely?

Does it have a mortgage?

Customer replied 274 days and 1 hours ago.

yes l own the property l have no mortgage

Accepted Answer

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Expert:  Law Denning replied 274 days and 1 hours ago.



There is no restriction on you doing what you
propose BUT

If you give your house away to avoid paying
care fees, the local authority can set the transaction aside as though it never
happened and force a sale of the house from your children.



The only way round it is to sell it to them
for full value but then it means that the local authority would be spending
cash (your cash) instead of having to sell your house.



There are various schemes around which supposedly
put the property into a trust but none of them are guaranteed to work in fact
I've never come across one yet that does work. Ohe organisations that set them
up do it because they charge £4000 and in my opinion they are praying on people
who are looking for a solution to the problem, a solution which does not exist.



Can I help further?



Please dont forget to positively rate my answer and
I will follow up any further points you raise for free. If you don't rate it
positively, then the site keep your deposit and I get 0 for my time. If in
ratings you feel that you expected more or it only helped a little, please ask
me for further info before rating me negatively otherwise I don't get paid at
all for my time and answer.



The thread remains open. If I have previously
only asked for information but now I have answered your question, you should
see a button which allows you to rate it. Please don't hesitate to ask any
follow questions. Thank you



L

Expert TypeSolicitor
Category: UK Property Law
Pos. Feedback: 96.4 %
Accepts: 2011
Answered: 8/10/2012

Experience: PGD Law. 20 years legal profession, 6 as partner in High Street practice

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