Hi there,
Just looking for advice. I build a large extension onto my mother' house and am currently living there. My mother wants to transfer the house to myself now, but retain the right of residence and on her solicitor's advice, say that I will agree to pay any monies owed to the HSE/Fairdeal scheme if they occur.
My queries are:
I put in around 180k to the build (including the 40k), is there any way I can protect this money rather than paying 7.5% of it to the HSE in the event of the fair deal scheme? Hopefully she won't need nursing home care, but I just want to see if that occurs. I know there is a 3 year cap on property.
The house is worth around 360k now, for the two parts of the house.
Any tips or advice on how best to proceed?
Thanks!
Just looking for advice. I build a large extension onto my mother' house and am currently living there. My mother wants to transfer the house to myself now, but retain the right of residence and on her solicitor's advice, say that I will agree to pay any monies owed to the HSE/Fairdeal scheme if they occur.
My queries are:
I put in around 180k to the build (including the 40k), is there any way I can protect this money rather than paying 7.5% of it to the HSE in the event of the fair deal scheme? Hopefully she won't need nursing home care, but I just want to see if that occurs. I know there is a 3 year cap on property.
The house is worth around 360k now, for the two parts of the house.
Any tips or advice on how best to proceed?
Thanks!
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