My Dad (97; living independently) inherited his parents owner-built shack, on the condition that he pass the property onto their grandchildren, when he dies. He has been living there, but now it is uninhabitable & irreparable. It has been deemed dangerous & needs to be torn down ASAP. The land is worth so much that it will now be an asset & he will loose his pension.
Has anyone else had any experience with this kind of situation?
He has no other sale-able assets, income or $$ apart from the pension. 2 of the 6 people who will inherit (including myself) have been counting on our share of the property to pay off debts we have from being renters & unable to work for a long time, & our only income is the DSP. So he doesn’t want any of his or his brothers’ children to loose their inheritance,
I have contacted Welfare Rights & a friend who works for Cl but they know nothing. But I did find this reference to the situation my dad is in. Unfortunately there are no other details, so I don’t know if & how it will effect how they assess him. Has hasn’t told them he’s moved from his former ‘home’ as he doesn’t want to take the risk of loosing his pension & the inheritance.
The other people who may be able to help would be the Financial Information Service Officers (FISO)... they generally know how assets are handled and given there is a provision for a residence becoming uninhabitable may be able to help.
You could also try the complaints line, or a local Federal MP... they can both access multiple areas of Centrelink and so can often give more accurate information.
If you call complaints/feedback I would just state that you have been unable to get a clear answer on your situation.
I have heard a few people mention that when a property is vacated/sold that any asset value can be held for 12 months.
when a property is vacated/sold that any asset value can be held for 12 months
Unless this ruling has changed this is correct so long as it is your primary place of residence that has been sold. It is essentially breathing space to reorganize and find another property to purchase. We all have to live somewhere right. Even if you know already this isn't part of the plan, no need to share it with Centrelink. Plans do, can and are allowed to be changed. Cheers bear