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Thomas
Thomas, Lawyer
Category: UK Law
Satisfied Customers: 7620
Experience:  BA (Hons), PgDip, Practising Solicitor
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can i sell myhouse to my son then rent it back from him

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can i sell myhouse to my son then rent it back from him
Hi,

What is the objective behind this please? Is it to avoid care home fees?

Is there a mortgage on the property?

Tom
Customer: replied 5 years ago.

there is no mortgage on the property and the reason i want to sell is two fold....to release money and to avoid care home fees

Hi,

Do you have a condition now that means it more likely that you would require care?

Is there an expectancy that you woudl require care?

Tom
Customer: replied 5 years ago.

no....i dont expect to need care but who knows what the future holds. i also dont want to leave this property hence the reason for not selling on the open market...

Hi,

Thanks.

Woudl he pay market value for the property?

Tom
Customer: replied 5 years ago.

yes....he would pay market value and i would pay market value rent.

Hi

Thanks for your patience.


There would be nothing preventing you doing this. If he paid market value for the property then the care homes would not be able to claim it back. I would get a few valuations to ensure that the amount your son pays is undeniably market value and so the care home (if any) would be discouraged from attempt to claim that it was transferred at less than market value.

If you son is buying the property with a mortgage then he should get a buy to let mortgage obviously, which would require that you are granted tenancies for no longer than 6 or 12 months at a time.
If your son is a cash buyer then he can grant you whichever tenancy he likes though.
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Kind regards,


Tom
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