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F E Smith
F E Smith, Advocate
Category: Law
Satisfied Customers: 17264
Experience:  I have been practising for 30 years.
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Myself and my husband and my daughter and her family are

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Myself and my husband and my daughter and her family are hoping to sell our present homes and buy one larger home so we can live together. If we sold our present homes and purchased separate homes again we would get the stamp duty waived up to 500K each but it looks like if we buy one property together we only received the allowance on one lot of 500K. I know of sisters who purchased a house together and one was a first time buyer so paid the lower rate of stamp duty but the other sister this was a second property so paid the 3% so I feel it only fair we should both be given ther allowance otherwise I don't think we will be in a position to make this family move. Many thanks Christine
JA: What steps have you taken so far? Have you prepared or filed any paperwork?
Customer: We have a property we would like to put an offer in for but until we have our finances all in place including the stamp duty we feel we can't
JA: Where is the home located?
Customer: In Barnham Nr Chichester
JA: Anything else you want the Lawyer to know before I connect you?
Customer: Not at the moment thank you

Welcome to Just Answer.

I will be happy to assist with your question today. I need sometime to consider this and compose a response. There is NO need to wait online becauseyou will get an email when I respond. Sometimes it will be minutes, sometimes longer.

I apologise for any unavoidable delay, but rest assured I have not forgotten your question.

before i answer your question can i ask if you (and the family) have considered what may happened if the living together doesnt work out as your finances will all be in one pot?

Customer: replied 11 days ago.
I would also like to know if the property we buy jointly what would happen if my husband or I needed to go into care would the fees be able to come out of the house which may b a little worrying for my daughter and family I thought the government were going to cap care fees at 72k but I don’t think this has been confirmed yet.

So if you have ever had an interest in the property (even an inherited one) you are no longer a first time buyer.

You are not a first-time buyer even if you owned a property 10 years ago and then you are now buying one but have had nothing in the interim.

Your understanding is correct with regard to the allowance.

The stamp is paid on the purchase, not by the individual so it’s in joint names, it is payable on the whole lot by “the buyers”. It’s up to the buyers how they apportion that between them.

That’s the situation you are in.

The government make lots of promises……………….

I’m not aware that any plans other than promises.

The house cannot be used for care fees if one spouse or civil partner remains in it. It is disregarded.

However if it’s being purchased as joint tenants, if one goes into care, the other should immediately sever the joint tenancy at the land registry to ring fence both shares because of the one who is not in care dies, and it is joint tenants, the local authority will nobble everything apart from the current exemption of 23,000.

I am glad to help.

Hopefully, I have answered your query in a way that is simple and easy to understand.

I would be more than happy to clarify anything else for you. In the meantime, thank you once again for using our services.

I am happy to answer any specific points arising from this.

Please be aware that my answer is based strictly upon the information you have given me.

If you still need any points clarifying, I will be happy to reply because the thread does not close. In fact, it remains open indefinitely.

I am always happy to answer any further questions you have on any new thread in which case, please start your question with, “ For FES only”.

You don’t need to do it on this thread, just a new thread. You have me exclusively on this one.

Thank you.

Best wishes.

FES

Customer: replied 11 days ago.
On the care home fees we would be buying this property my husband and I with my daughter and her husband so if we needed care would the uthority put a charge on the house as I am concerned about my daughter and family having to sell the house to pay for our fees thanks

If you both needed care, the local authority could force a sale of the house although it would ring fence your daughters family share from yours.

You will find this booklet extremely informative and in particular go to section 5 where you can see that the property is disregarded if the relatives who live in the property are 60 or over, a child under 18 or incapacitated.

https://www.ageuk.org.uk/globalassets/age-uk/documents/factsheets/fs38_property_and_paying_for_residential_care_fcs.pdf

a word of warning, nothing to do with what we are talking about, but I have dealt with dozens of questions where people have done exactly what you are proposing to do and then, there has been a falling out and everybody has been severely disadvantaged. I appreciate you may get on now swimmingly but just be aware that if you are going to stitch yourself into this, you need to think what’s going to happen if you need to unpick it. Hopefully it won’t happen but do consider it.

No problem at all. I am really glad to help. Come back to me at any time if anything else needs clarification. Kind regards

Customer: replied 10 days ago.
Thank you for your caring coment I do appreciate it and we have spkoen in depth about this as I am sure there will be times when we don't see eye to eye. Couple more questions does stamp duty have to be paid to the solicitors on the completion statement and or is there a time period to pay. My Mother has left her estate to my sister and I but if I died before her would my part of the inheritance automatically go to my children or indeed if I died shortly after her. Going back to care home fees if the uthority took this out of our part of the property would they insist my daughter sell the house to cover this or put a time frame on it. Thanking you

Stamp Duty is paid on completion I’m afraid. It’s not like inheritance tax where you can agree with the revenue to paid over a period of time.

If a person predeceases the person who wrote the will, then under section 33 of the Wills Act 1830, the deceased persons share that they would have received goes to their “issue” which are children or grandchildren who survive and reach 18.

So if you die before your mother, and your mother has not excluded section 33 (it is not usually excluded) then your share will go to your children in equal shares.

If you died shortly after your mother, then your share passes in accordance with the terms of your will or intestacy if you have no will.

The local authority would normally allow a reasonable amount of time for your daughter to sell the house to cover the care fees but meanwhile take a charge on it to make sure they get the outstanding money.

Customer: replied 10 days ago.
Thanking you very much - what do you mean take a charge on it to make sure they get the outstanding money? Also do you cover most aspects of legal work as I will probably be selling 1-2 properties and buying jointly with my daughter and I would also want to renew my will and have some legal agreements put in place.
Customer: replied 10 days ago.
Sorry I have another question my husband and I are both directors of a limited company if one of us were to pass can it still trade with one director or would I need to appoint another person. Thank you

I am glad to help. The building society in effect are “investing money” in the property and that’s why they have a charge shown in the Charges Register of the title deed.

You are in effect doing the same, and therefore the best way of having no liability but securing your asset is to have a legal charge.

I’m afraid that we are specifically not allowed to take instructions from here.

If the site were to be a source of potential clients, we would no longer be independent because we would have an interest in pursuing litigation. With no interest in pursuing litigation, we can be really objective with our view is to whether something has a good chance or a limited chance of success.

In any event, for logistical reasons you would be better using a local solicitor .

In respect of the limited company question, as it’s a completely different subject, and nothing to do with the purchase of the property is, you would need to post that is another question. However if you put my name at the top of the thread, “For FES only” I would be more than happy to deal with that for you.

Can I assist you any further with this? Please remember that I am always available to answer any follow-up questions that you may have and I am happy to deal with any new questions.

Kind regards

Francis

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