Mum did Lifetime mortgage on property she doesn't own outright

[jang27]

When my dad passed mum assumed he had left his share of the house to her, but he left it to me and my sister. She did equity release but has since been diagnosed with alzheimers and now needs to go into nursing care. In theory the house should be sold when she goes into care, but she doesn't own it outright. Can they insist on selling the house to recoup their money or will they have to wait until she passes?

 

[nitram]

Can they insist on selling the house to recoup their money or will they have to wait until she passes?

I think they will insist.
The option of waiting till her death will probably mean putting a charge on the house which could be complicated by it only being a half share combined with equity release.

Would both you and your sister be prepared to sell?
Does mum have capacity?
Does anybody have financial LPA?
What does the equity release say about permanent residential care?

You need informed legal advice.

 

[Jaded'n'faded]

Is the equity release valid? I wasn't aware you could get equity release on half a house. Most ER schemes insist the property is sold when someone moves into permanent care.

This is complicated - please get legal advice.

 

[jang27]

I think they will insist.
The option of waiting till her death will probably mean putting a charge on the house which could be complicated by it only being a half share combined with equity release.

Would both you and your sister be prepared to sell?
Does mum have capacity?
Does anybody have financial LPA?
What does the equity release say about permanent residential care?

You need informed legal advice.

We both have separate LPA's (hers was only granted 3 weeks ago), but we're not on speaking terms.
I have no problem selling, but don't think my sister would be keen.
Yes, mum still has capacity.
Equity release says the property needs to be sold when she goes into care, but they weren't aware she didn't own the house outright.

 

[jang27]

I think they will insist.
The option of waiting till her death will probably mean putting a charge on the house which could be complicated by it only being a half share combined with equity release.

Would both you and your sister be prepared to sell?
Does mum have capacity?
Does anybody have financial LPA?
What does the equity release say about permanent residential care?

You need informed legal advice.

Is the equity release valid? I wasn't aware you could get equity release on half a house. Most ER schemes insist the property is sold when someone moves into permanent care.

This is complicated - please get legal advice.

You can't get equity release on half a house, but mum thought it was hers. They obviously haven't done their due diligence with it. We will let them know as soon as she goes into the nursing home and see what happens. I presume they will insist on selling.

 

[nitram]

Yes, mum still has capacity.
Equity release says the property needs to be sold when she goes into care, but they weren't aware she didn't own the house outright.

Mum needs to contact equity release.
Sister has to be persuaded to sell her share.

 

[Jessbow]

We both have separate LPA's (hers was only granted 3 weeks ago), but we're not on speaking terms.
I have no problem selling, but don't think my sister would be keen.
Yes, mum still has capacity.
Equity release says the property needs to be sold when she goes into care, but they weren't aware she didn't own the house outright.

How is it going to work if you are not on speaking terms?
usually thereis only one POA, but granted to perhaps two people, eithr jointly or jointly and severally .

 

[DollyM1]

Equity release on dads house, we had a year, from when he went into care, to pay back the money.