How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Clare Your Own Question

Clare
Clare, Solicitor
Category: Law
Satisfied Customers: 33279
Experience:  I have been a solicitor in High Street Practice since 1985 with a wide general experience.
13262538
Type Your Law Question Here...
Clare is online now

We have a small mortgage

Customer Question

We have a small mortgage on our property .
We would like to sign over our property to our two daughters now so if the time comes borough councils and nursing /residensal homes can't get there hands on it is this possible
Submitted: 7 months ago.
Category: Law
Expert:  Clare replied 7 months ago.
HIThank you for your questionMy name is ***** ***** do my best to help you but I need some further information first.How old are you both and how old are your daughters?How much is the house worth and how much is outstanding on the mortgage?
Customer: replied 7 months ago.
Thank you Clare for answering my first email I've never done this before and have been worried as I in not very good with with technology I'm also concerned as to how much this is going to cost so I think I will stop hear and get my daughter to help me regards Pam
Expert:  Clare replied 7 months ago.
I shall ask Customer Services to clarify the payment details for you!
Expert:  JGM replied 7 months ago.
In order to transfer over the property, the mortgage would have to be redeemed. You would either have to pay this off, or your daughters would have to get a mortgage in their name in order to pay you money to do so. As regards ***** ***** itself, if you are both fit and healthy and remain so for some time after the transfer (common opinion) is seven years, and don't need care during the period, then the transfer would normally be exempt from challenge. Happy to discuss further. I hope that helps. Please leave a positive rating so that I am credited for my time. NB If there are inheritance tax complications with your estate then you may want to take specialist tax advice before doing the transfer. For example, if you transfer the house and continue to live there rent free, that can have tax implications on death. Many people don't fall into that financial bracket, £650000 plus, but I raise it just as a caution that you should consider all the implications of a family transfer.
Expert:  Clare replied 7 months ago.
I am afraid that the above is not correct when it comes to the issue of whether or not the Local Authority can challenge it.I will need the details I asked for to give you the best possible assistance

What Customers are Saying:

 
 
 
  • Thank you so much for your help. Your answers were really useful and came back so quickly. Great! Maggie
< Previous | Next >
  • Thank you so much for your help. Your answers were really useful and came back so quickly. Great! Maggie
  • A quick response, a succinct and helpful answer in simple English. I believe I can now confront the counter party with confidence -- worth the 30 bucks! Rick
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C.
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP
  • I couldn't be more satisfied! This is the site I will always come to when I need a second opinion. Justin
  • Just let me say that this encounter has been entirely professional and most helpful. I liked that I could ask additional questions and get answered in a very short turn around. Esther
 
 
 

Meet The Experts:

 
 
 
  • Jo C.

    Jo C.

    Barrister

    Satisfied Customers:

    30316
    Over 5 years in practice
< Last | Next >
  • http://ww2.justanswer.com/uploads/EM/emus/2015-7-7_192327_bigstockportraitofconfidentfemale.64x64.jpg Jo C.'s Avatar

    Jo C.

    Barrister

    Satisfied Customers:

    30316
    Over 5 years in practice
  • http://ww2.justanswer.com/uploads/BE/benjones/2015-12-1_0437_ennew.64x64.jpg Ben Jones's Avatar

    Ben Jones

    UK Lawyer

    Satisfied Customers:

    11553
    Qualified Solicitor - Please start your question with 'For Ben Jones'
  • http://ww2.justanswer.com/uploads/BU/Buachaill/2012-5-25_211156_barrister5.64x64.jpg Buachaill's Avatar

    Buachaill

    Barrister

    Satisfied Customers:

    1754
    Barrister 17 years experience
  • http://ww2.justanswer.com/uploads/JO/jojobi/2013-3-19_0265_maxlowryphoto.64x64.jpg Max Lowry's Avatar

    Max Lowry

    Advocate

    Satisfied Customers:

    894
    LLB, 10 years post qualification experience
  • http://ww2.justanswer.com/uploads/UK/UKLawyer/2012-4-12_9849_F2.64x64.jpg UK_Lawyer's Avatar

    UK_Lawyer

    Solicitor

    Satisfied Customers:

    750
    I am a qualified solicitor and an expert in UK law.
  • http://ww2.justanswer.com/uploads/KA/Kasare/kasare.64x64.jpg Kasare's Avatar

    Kasare

    Solicitor

    Satisfied Customers:

    402
    Solicitor, 10 yrs plus experience in civil litigation, employment and family law
  • http://ww2.justanswer.com/uploads/OS/osh/2015-7-7_19268_gettyimagesb.64x64.jpg Joshua's Avatar

    Joshua

    Lawyer

    Satisfied Customers:

    8199
    LL.B (Hons), Higher Prof. Dip. Law & Practice