Transfer of House Ownership

[suzukibandit650]

My wife and I are in the process of selling our house and we have had an offer from my father that we could buy his house. He only has a small loan linked to the house and offered that if we sell our house and pay his loan off we could buy the house from him. Does anyone know what we would have to do to pay off his loan attached to the house and to change the ownership deeds from his name in to mine? Thank you.

[WILLWONKER]

Its simple you just employ a solicitor, father or not you must do this legal, to give you an example of how things can go wrong with family, an old lady i know gave over her home too her son 5yrs ago to save him any problems when she dies, the wife of that son now wants to charge is mom rent because they have got money problems, bad or what???

[woofgang]

mm I knew a lady who sold her house to her son and dil and they built her an annexe attached to it to live in...fine till son and dil divorce, dil gets the house in the division and evicts mil (by then elderly and infirm) and sells the house :(

[S_C]

just contact the lender and make an offer to pay off the bill , if your paying off a loan before time you may get discount on amount " never hurts to ask "

as for change of ownership thats simple see a solicitor with your farther " taking the property papers " and they will contact land registry to transfer the ownership.

[droopdrawers]

I think you may find if your Father needs to go into care this move may well be seen as a way to avoid paying care fees. In which case you would be expected to pay towards his keep.

There are other possible implications here too and a Solicitor would explain them to you fully.

DD