Is it legal to sign house over now

There is nothing to stop you signing your home over to your DD or indeed to anyone else as long as your mortgage lender agrees - but do not expect this action to avoid care/nursing home costs.

What about your own security?

I think there may be tax involved if it’s viewed as a gift?

I would consult a solicitor before doing anything. There are very strict rules about moving assets or money around.

I agree with MissA - most solicitors will give a free 30 minute interview.

I d love to see a ‘property bladder’ sorry Greciangirl it was too good to miss

I think you can give away whatever you like whenever you like but you will need to pay someone to do the conveyancing.

There are implications. If you are perceived to have given it away to avoid paying for care home fees the LA will assume you still own the property. If you are liable to pay Inheritance Tax at the moment and give it away but still live in it you will need to pay a market rent it will still count for IHT purposes. If you give it away and don't live in it then it will still count for IHT unless you live for 7 years after gifting it.

To avoid care home fees you would have to prove that you have been paying a market rent to your daughter since you gave her your property.

Be very careful and take legal advice before doing this. If either of your children get into debt then they risk losing the roof over your head. There are rules regarding tax and how much money you can give away each year plus, of course, as Luckygirl stated your house (even if legally transferred) might have to be sold to pay for nursing home fees. It is a minefield.

Ilovecheese I don't think it is quite so simple, I think that LAs have their own methods of deciding if a property has been sold or given away to avoid care home fees and paying rent makes no difference. I think what you are suggesting is the tax rules for IHT where you cannot give away your house and still live in it without paying market rent. Even then you would have to live 7 years to avoid it being included in your assets.

Will you be paying rent?
If you don't I believe your son, daughter can still be taxed on the income they should have received. Check this.
Are your children married? If you sign over your house and they split up from their spouses their ex can claim half of your childs share.
If you want to move will they let you? It happened to a friend of my mums. They trusted their children. they were disappointed.

Don't do anything without getting proper legal advice OP.

This is absolutely essential.

It's ok to ask for opinions on here but you shouldn't make such a life-changing decision based on advice on here from people who are possibly not legally qualified.

Find a solicitor who deals with family/property law.
The C.A.B should be able to point you in the right direction.