Issue details

Treatment of jointly-owned property in the residential charging calculation - 10/01553

 

 

To agree a change in the procedures for valuing a resident’s interest in jointly-owned property for the purposes of assessing their contribution to the cost of residential care.

Decision type: Key

Decision status: Awaiting Implementation

Decision due: 26 Jan 2011 by Cabinet Member for Older People’s Services (including Public Health)

Department: Kent Adult Social Services Directorate

Contact: Christine Grosskopf, Policy Manager Email: chris.grosskopf@kent.gov.uk.

Consultees

Consultees

 

Informing Only

Who and when? 

N/A

 

Who is it necessary to consult?

N/A.  This is a change in procedure and the interpretation of the existing rules as laid down in the Charging for Residential Accommodation Guide (CRAG).

 

Has the matter already been discussed by a Policy, Overview and Scrutiny Committee?

No

 

Is the matter referred to in your Business Plan or Medium Term Capital Programme?

No

 

Closing date for consultation/receiving comments: 

N/A

 

Financial implications: Chris Grosskopf, Policy and Service Standards, Kent Adult Social services. Tel: 01622 696611 (7000 6611)

Legal implications: 10/01553

Equalities implications: This is a significant change in the way jointly-owned property is currently valued. Because of the complexities involved in this the current procedure is to ignore a resident’s interest in any property which is jointly-owned. Whilst not wishing to revisit existing residents’ assessments, it is recommended that we change the procedure for new residents from January 2011. It is proposed that a default position be adopted whereby a resident’s interest is worked out by multiplying their % share by the full market value of the whole property. If this is disputed then an expert valuation of the resident’s interest will be obtained from an independent chartered surveyor. If implemented this change is expected to save approximately ¼ to ½ a million each year. It is proposed that residents who are unable or unwilling to release their interest in any jointly-owned property will be offered Temporary Financial Assistance provided all joint owners agree to having a legal charge placed on t

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