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Sorry for the delay in replying, not sure if this question is still active? If it is;
Can I scrap the 2nd question in my original post, I think the benefits issue can be dealt with without legal advice.
But I am still interested in points 1 and 3;
Q1. Is it legal for me to give my grandparents £50,000 to buy their council house? - I believe this is perfectly legal from what I can gather.
Q3. Would it be straightforward to then put it in a will that the property will be left to me when they die? Could a solicitor come to their house and get that documented legally? - Also, is there anyway to transfer ownership other than leaving it in a will? - I don't believe you are allowed to sell the property within 5 years, but not sure if "gifting" the property back to me would get around that?
That sounds like a good idea. How does the declaration of trust sit in relation to the will?
Just asking because if we signed a declaration of trust to that effect but the will was lost / ambiguous and was challenged by another relative, do you know what would take precedent / priority?
I would just to clarify a couple things if I may.
If the Declaration of Trust states the property would revert to me, but my grandparents had a last minute change of heart on their death bed (Hypothetically) and decided to re-write their will to the effect of giving the property to another relative, which document would take legal priority in that situation? The Declaration of Trust or the Will?
This question has been marked as finished? But I am not finished?
Thanks. I think that clears that up.
One final question, sorry;
At what stage of the process can the Declaration of Trust be signed. Before they take ownership of their house i.e. whilst they are filling out their right to buy forms for the council? Or is it something that can only be signed once the process with the council is complete and they are in full ownership of their property?