Thread: Changing name on property deeds.

Hi ,the 7 year rule i was aware of ,the money i got to buy the house was not a loan to them,i just wanted them to have a better standard of living because they don't get a lot of pension.I was thinking what are the possibilities of naming my daughter as living there as a carer and maybe backtracking the date !!!.God forbid if anything happens to my parents but i am just trying to find the best way of getting out of paying tax to His...

It's NOT just a change of name, it's a change of ownership. You cannot change the deeds - your father has to do that. (OK you can do the work but he's the one who will have to sign). Costs will be on the Land Registry web site - not that much IIRC. Well under £100. What it comes to is a gift from your father to his granddaughter: its value will be a gift for IHT purposes, with tax (possibly) due if he dies within 7 years,...

Things may be different in other parts of the country, but from my time as a CAB volunteer this has been a common query and is a 'can of worms'. As I understand it, only the tenant can buy the house, not their relatives, so it could be that you gave your father money to buy, but he is still the legal owner. The local authority could place a charge on the house if one of your parents died and force the sale of the house when the...

What, by fraud? Not what this website is about.

Quote: Originally Posted by buryblue Hi ,the 7 year rule i was aware of , the money i got to buy the house was not a loan to them ,i just wanted them to have a better standard of living because they don't get a lot of pension. If not a loan, was it a gift to them? If it's still "your money" in your mind, then it was a loan. Whose names are on the deeds? If it's your parents' names - and I'm sure only...

Quote: Originally Posted by buryblue Hi ,the 7 year rule i was aware of ,the money i got to buy the house was not a loan to them,i just wanted them to have a better standard of living because they don't get a lot of pension.I was thinking what are the possibilities of naming my daughter as living there as a carer and maybe backtracking the date !!!.God forbid if anything happens to my parents but i am just trying to find the best way of...