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Ask Clare Your Own Question
Clare
Clare, Solicitor
Category: Property Law
Satisfied Customers: 34233
Experience:  I have been a solicitor in High Street Practise since 1985 with a wide general experience.
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My father has gone into residential care, we are self

Customer Question

My father has gone into residential care , we are self funding. He owns a house. I along with 2 of my sisters have registered power of attorney. We would like to hold onto the house to enable dad to come 'home'from time to time. also by not selling now we hope that the property achieve s a higher sell price in the future as we do not know how long we will be paying care fees for and we do not want dad to end up in council run facility. My question is : is it possible for me to purchase half of my fathers house at current market value (understand I would need 3 separate estate agency quotes) with the intention that my deposit monies go into dads savings to pay care fees and in the event that we need to sell the property in the future for him that this would be part of the agreement . with my deposit and dads pension we can continue paying for approx 3 and half to 4 years depending on whether home fees increase before considering selling the house.
Submitted: 11 months ago.
Category: Property Law
Expert:  Clare replied 11 months ago.

Thank you for your question

My name is ***** ***** I shall do my best to help you

Provided you all agree and you pay the market price there is no problem in you doing this

Please ask if you need further details