From: Dave Gill 
Newsgroups: uk.finance
Mail-Copies-To: nobody
Subject: Re: House sale to finance extension of daughter's property
Date: Sun, 28 May 2006 17:55:01 +0100

In article <1148829281.827969.66740@y43g2000cwc.googlegroups.com>,
 "Troy Steadman"  wrote:

> It has to be the latter, otherwise the whole thing falls apart. There
> no other children?

The daughter is Mrs X's only child.

> There are oodles of things to consider, and as Ronald has suggested,
> adding Mrs X on to the deeds is an obvious - and IHT saving - option.
> It all depends on where you want to end up.

How would that affect Mr & Mrs Y's mortgage, and what would the 
implications be if, at some time in the future, Mrs X needed residential 
care?  Would it then be a case of selling the property to finance the 
treatment (as it would be if Mrs X still lived alone)?

> Mrs X will (maybe) have to prove in front of a Psycho-Geriatrician
> (posh word for someone who charges £180 per 1/4 hour) that she is
> capable of these decisions before any solicitor will touch this. Mrs X
> is selling her house and effectively giving the money to you, so she
> needs to understand what she is doing.

Mrs X is planning to sell her house, no-one has objected and no-one has 
questioned her metal faculties, so that doesn't appear to be an issue.

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