Joint ownership of property – (Couples only)

By using this solution you would ensure that 50% of the property is protected without any risk of the Deprivation of Assets/Notional Capital rules being applied as no gift of the property is involved.

 

This solution involves holding your home in joint names as tenants in common. What this means is that each spouse/partner owns their own half share of the house rather than you both jointly owning the whole. This is a simple structure to set up with the Land Registry.

 

If one of you goes into care and the other remains in the property and is over 60 then the half share of the house belonging to the Claimant is disregarded anyway, but if the spouse/partner in the property is under 60 then that half share will be taken into account in the Financial Assessment. The liability is limited to a half share only and it may be possible for payment to be deferred until the property is ultimately sold.



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