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Aston Lawyer
Aston Lawyer, Solicitor
Category: Law
Satisfied Customers: 10772
Experience:  Solicitor LLB (Hons) 23 years of experience in Conveyancing and Property Law
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Inherited bungalow 250,000.00 I am a single person with an

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Inherited bungalow 250,000.00 I am a single person with an estate of 1 million in property.
Would like to give bungalow to my son who will pay me the rental income. I don't work- cash
short due to care home fees for Mum who died beginning of April - inherited third share of three
further cottages If I put a deed of transfer to my son and God forbid anything happens to him
can I have the bungalow back?!
Hi,Thanks for your enquiry. I'm afraid you can't "have your cake and eat it". If you were to transfer the bungalow to your Son, he then becomes the legal owner and is free to do with it as he so wishes. You can't gift a property and then put a proviso that it comes back to you if anything were to happen to your Son.If you wanted to safeguard a legal interest in the property, all you could do is to grant your Son a lifetime Lease of the bungalow. In this scenario, if, God forbid, he were to die before you, then his interest in the bungalow would cease and the absolute legal ownership would revert back to you.I hope this assists and sets out the legal position.Please le me know if you require any further clarification.Kind RegardsAl
Customer: replied 1 year ago.
Thanks - thought as much worth asking
You're welcome.If I have assisted, I would be grateful if you could rate my answer, so I may get credited for my time.Best WishesAl
Hi,Can I assist you any further?If not, I would be grateful if you could rate my answer.Kind RegardsAl
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