Can't find anything in the search function about buying property from family members.
Our situation is our mother is needing to sell her unit which we think would realistically sell for $350k. We are trying to reduce her asset base as if she goes into low care she will lose the use of all her capital (other than $37,500). If she could sell the unit to us for a lower amount her asset base would be less. Does anyone know what the govt will allow or disallow in this situation?
Our situation is our mother is needing to sell her unit which we think would realistically sell for $350k. We are trying to reduce her asset base as if she goes into low care she will lose the use of all her capital (other than $37,500). If she could sell the unit to us for a lower amount her asset base would be less. Does anyone know what the govt will allow or disallow in this situation?