Timeline for What is it called to change the owner of a property?
Current License: CC BY-SA 4.0
5 events
| when toggle format | what | by | license | comment | |
|---|---|---|---|---|---|
| Apr 9, 2022 at 15:00 | comment | added | Michael Harvey | People in the UK who become unable to care for themselves and need care provided by the local authority have any savings, and capital holdings, etc, assessed and have to pay a charge based on that (up to a maximum). The value of a house is considered to be 'capital'. Sometimes people think they can reduce or avoid charges by 'putting the house, savings, investments, etc, in someone else's name' (as a gift). Often a relative. But the authorities are wise to this, classing it as 'wilful divestment', and the value thus divested may be included in any assessment. Also applies to bankrupt people. | |
| Apr 9, 2022 at 13:37 | vote | accept | Mohd Sala | ||
| Apr 9, 2022 at 13:32 | comment | added | Michael Harvey | @KateBunting - 'signed over' as well, at least in the UK, and 'put the house in my brother's name' also, although that might possibly imply an attempt to e.g. avoid taxes, claims for damages, etc. | |
| Apr 9, 2022 at 12:23 | comment | added | Kate Bunting | "I have made over the house to my brother" can also be used. | |
| Apr 9, 2022 at 11:45 | history | answered | WS2 | CC BY-SA 4.0 |