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Thomas, Lawyer
Category: UK Law
Satisfied Customers: 7620
Experience:  BA (Hons), PgDip, Practising Solicitor
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If I transfered my apartment that has no mortgage into my sons

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If I transfered my apartment that has no mortgage into my sons name how long does it have to be in his name before the authourities can access it if I incured oyher debts?

Is this about care home fees?

If so, do you have any condition now which means that it is foreseeable that you would require care?

Customer: replied 5 years ago.

not about care

I have incured debts in spain and my property in england has been in my

sons name for over 2 years


Thanks for your patience.

The transfer to your son is what is called a Transaction At An Undervalue.

In the case of a transaction at an undervalue which were done innocently and not intended to defraud creditors there is a time limit in the case of individuals under the Insolvency Act which means that once 5 years have passed a creditor will not be allowed to attempt to have the transaction set aside (ie. Recalled).

However, if it is clear that the transaction a transaction was taken with the intention to defraud creditors then there is no time limit. It is more difficult to recall transactions under this provision because it requires proof that the transaction was done with a view to protecting the asset from your creditors. If you did not incur the debt yet at the time you made the transfer then you should be okay in this respect and should only be concerned about the above outlined time limit.

The creditor would first have to obtain judgement against you in the UK and then become aware of the transfer of course.

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Kind regards,

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