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Couple more points. If mum has not assets then bankruptcy may be a way out. Generally they wouldn't go after the house if owned solely by dad - unless much larger debt. But watch out if dad passes away while mum is bankrupt and she inherits... Testamentary trust may fix this if there are...

1. You can't just take over a mortgage. Title could be transferred to the son/daughter, but he or she would have to apply for a loan of this amount. What is the effect of this on the parent's pension? It will be adverse, and will probably count as still having the value of the house in the...