Is Selling My House For £1 A Gift?

As the virtual steam of the Necropolis Railway faded and the book club turned to their second favourite activity, eating cake, the group got chatting. Mary had made an excellent Victoria sponge this week. Pam said "it's just as well it wasn't my turn to bake, I have been going back and forth to mum's all week. She has been speaking to a friend about care fees. I told her all that we had talked about but her friend is adamant that none of this gifting stuff is relevant to her. She is not going to gift her house, she is going to sell it to her son for £1. That got mum thinking whether she should do the same. I had to take a few deep breaths".

"What do you mean?" asked Marjorie, "if she sells it, that's not a gift is it?" "Actually" said Mary, "it's funny you should mention that. My mum thought of doing exactly the same thing with me and she went to a firm to ask them to draw the paperwork up. Thankfully, somebody with some expert knowledge pointed out to her that she