Property: Joint Tenants issue

[Kevinl]

Hello, Thank you for your reply. We have had a hectic few months here and sorry to come back to this point on which you have already quoted. In your second paragraph you state that had we been Tenants in Common we would have been able to bequeath our share of the property to 'others' - but we have done that (each) and yet we are Joint Tenants ? Have we done something which will not be 'upheld' ???

If you're joint tenants then the property automatically passes to the surviving tenants so you can't will it to anyone, you have to be tenants in common to do that as far as I understand it. I'm surprised the people making the will didn't point this out to you.
K

 

[nitram]

If you are joint tenants and you predecease your husband the whole of the value of the property will become available to pay for his care.

It is simple to change the ownership to tenants in common, you just have to serve notice ie give him the completed form, you can do this even if he lacks capacity. If he does not want to you can still do it without his consent.
https://www.gov.uk/joint-property-ownership/change-from-joint-tenants-to-tenants-in-common

Having done this you could change your will to leave your half of the house to somebody other than your husband, he would still own his half. If you then predeceased him the argument about the value of half a house when the owner of the other half was unwilling to sell would arise.

 

[Amalthea]

Joint Tenants and care home fees

My situation is similar to those already posted. My husband and I and my mother-in-law have all lived in the same house for 24 years as joint tenants. We still have another year on the mortgage to pay.. Unfortunately his mothers dementia has become worse and she now needs 24hour care. We are about to be financially assessed by Social services. I am worried that they may consider her third of the house as an asset and either put a charge on the house so if and when we sell it they will demand her share of the sale (even if its after her death) , or force us to sell the house.
My husband is 60 years old in July and I have read they would normally disregard the property when he is 60, but the situation is serious and we cannot delay her going into a care home. I have also read that the financial assessment should consider her assets as they are at the time of the assessment which in her case would be a third of the house and if put on the market the value would be Nil or minimal as who would want to purchase a third of a house.
I am not sure if anyone has been through this type of situation. I have read so much but its always 'this may happen' or 'that may happen' there never seems to be an answer saying 'this is what will actually happen' .
I hope someone can help I am at the end of my strength with it all.

Many thanks

 

[Kevinl]

We still have another year on the mortgage to pay.

To enter a DPS the LA have to have a "Local authorities must accept a first legal mortgage charge against a property on the Land Register as ‘adequate security’."
from the link below. I doubt the mortgage holders would agree to that, they have the first legal charge and won't want to give that up while they're still owed money.
Secondly at present she has no "share" in the house as you're joint tenants. Tenants in common have an assigned portion of the property as recorded with the land registry but joint tenants all own the house as a whole.
K

http://www.local.gov.uk/documents/1...s+AM.pdf/3ce0348f-586b-4328-b556-79a0f1a2ad90

 

[Pete R]

My husband is 60 years old in July and I have read they would normally disregard the property when he is 60........

When your husband reaches 60 the property is disregarded no matter when the assessment takes place. The assessor should take this into account.

 

[realist1234]

I would be very surprised that in these circumstances, the LA did not disregard your home completely.

This ageuk leaflet discusses property and section 4.3 gives an example of a discretionary disregard.

http://www.ageuk.org.uk/documents/e...rmanent_care_home_provision_fcs.pdf?dtrk=true


I can assure you they cannot force you to sell the home as you are joint owners. You and your husband will have enough stress in the next few months in trying to find a good and affordable care home for your MIL without this added worry.