Transfer of family home

[Unregistered]

My parents want to sign over the family home to the whole family so as to avoid the sale of it should either of them need to go into a nursing home. Can they do this and what tax implications might apply. The house is valued at 250k and there are eleven children. thanks

 

[RainyDay]

My opinion would be that they should NOT transfer their property. If they consult their solicitor, he will advise how they can structure things so that some/all of the children can making binding decisions if both are incapacitated.

If one is incapacitated, they could make the decision to sell at that stage. What is the advantage of transferring now?