Purchasing My Mothers Flat

[Ric.ror]

I currently live in a flat owned by my mother
She rents the stair free flat below. She has Alzheimer’s and will eventually need more help than I can provide. Could I buy her flat from her at the market value - so when/if she goes into a home I will not be homeless?
I should add I am in the process of applying for POA?



Again (as always) thanks in anticipation

[waterboatman]

I don't see why not. I'm not a lawyer, but that looks like a sensible plan to me.

[Ric.ror]

I think the problem may arise when if it comes to funding her care Home fees

[waterboatman]

Indeed. But I'm assuming that is the reason for buying the flat? You should be able to take over the tenancy of the other one.

[bhg481]

I don't understand your worry. If you buy the house from her at market value she will have a pile of money in a bank account to pay hercare-home fees. It's no different from the council taking her home and selling it to pay her fees, except that you can't be made homeless. If you buy it for less than market value you could have a problem.

[Ric.ror]

I presume if I provide say two estate agents estimates - that should suffice any query from the authorities. When the time comes for mum to leave her flat I don’t want to take over the tenancy - I hope to continue to live in her flat - that may then be mine

[waterboatman]

That's fair enough ric. I don't know the answer to care fees in that case.

[Tilly2]

Is your mother's rented flat currently for sale?

[EDDIE51]

Your Mum is still going to have the money from selling her flat and that has to go towards care fees.
If you stay in the flat without buying it, the council will register an interest in it so that when it is sold after she passes the money will be recovered from the sale price. There is no way round having to pay care fees if she does go into a home.
The best solution is if you can look after her so that there is no need for her to go into care at all.

[Ric.ror]

Tilly - the flat my mum lives in is ex LA owned by a housing association now
As she had lived it in it for more than two years she could buy it but she does not want to. The flat above her is owned by her and I live in it. I don’t want to be left homeless if she has to relocate to a care Home so it seems logical that I buy her flat from her but you know how complicated authority likes to make things
I should point out I’m not trying to avoid paying the fees

[ubasses]

All the authorities care about is that the fees are paid for from your mothers assets. As long she has not been deprived of those assets, and in this case you will be replacing her property with cash they will be happy.
One thing may be worth thinking about (if the rules have not changed ) if she just has cash she will be paying from day 1 if she owns a house there is the 12 week home disregard, allowing time for the house to be sold. It might pay you to tell them you are selling the property when she has to go in, claim the 12 weeks, then purchase the flat yourself.