I have a friend who has actually said that her husband and herself discussed the possibility of transferring their house into their daughter's name. They are both in their 40s, without major health problems, and their daughter is still at school! The problem with this is that you are putting an enormous amount of trust in whoever you give the house to. What happens if they go off the rails in some way - get into drugs, gambling, meet the wrong person etc? You could lose your home from under you anyway.Clive said:"Helena, I believe that transfer of assets need to have been established for 7 years, before they are disassociated from the previous owner."
This applies to Inheritance Tax. Social Services just have to prove that a house has been transfered with the intention of avoiding Home fees. No time period is set. Best to do any transfers before you become old or ill.
My mum is on a deferred payments scheme but we have not 'formally' agreed to a charge on the property ie we have not signed to say we agree. Looking at what Sally says it may be that we are assumed to have agreed, given the fact that we have not mounted a legal challenge. However, it seems strange to me that the Local Authority do not provde either the resident or their next of kin with paperwork relating to this, and that they do not ask for a signature.jenniferpa said:If one wants to take advantage of the deferred payments scheme, then one's going to have to agree to the charge. It may not be fair, it may not be right, but it is what it is.
Now I think where it gets sticky is that many LA's will try to force the sale of the property, while some seem to be happy to let the deferred payments mount up.
What I'm trying to say is: if one wants residential care one will be signing something: either a contract with the care home, or an agreement with social services, because someone, sometime will have to pay that care home bill.
Are you saying that the land registry website would yield that information Jennifer? Isn't there a confidentiality/data protection issue if that is the case?jenniferpa said:Brenda, have you been to the land registry site to see whether they have placed a charge on your mother's house? I believe there are certain circumstances when a charge can be placed without the owner being notified, although having lokked through the site, I have no hesitation in saying that it is one of the most confusing, badly arranged sites I have ever come across. However I think a search costs a minimal fee, and it might be worthwhile.
PS I assume you haven't signed a contract with the nursing home either?