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SYK
SYK, Solicitor
Category: UK Law
Satisfied Customers: 203
Experience:  LL.B Honours Law, PgDip in Legal Practice, Solicitor 4.5 years PQE
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I am non resident in the uk but my children are citizens and

Customer Question

I am non resident in the uk but my children are citizens and residing there 3 of them 21,16,15 I'm selling property out of the uk and want to buy my kids properties in england first can i do so second which is the best way to buy the property for them jointly in their names or as a trust or as a company including the 3 of them
Submitted: 4 years ago.
Category: UK Law
Expert:  SYK replied 4 years ago.

Hi,

 

Thanks for your question.

 

If you wish to buy a property in the UK, there is nothing preventing you from doing so, however, you must bear in mind that persons under the age of 18 are not entitled to hold property in their name.

 

If you wish to purchase a property in the names of your children whom are under 18, I would suggest you set up a Trust in their names. It would be strongly advised for you to i instruct solicitors to do this for you.

 

I hope this answers your question. If so, kindly click accept.

 

If you wish to discuss, please feel free to ask further questions.

 

Kind regards,

SYK, Solicitor
Category: UK Law
Satisfied Customers: 203
Experience: LL.B Honours Law, PgDip in Legal Practice, Solicitor 4.5 years PQE
SYK and 3 other UK Law Specialists are ready to help you
Customer: replied 4 years ago.
do i pay any tax when i bring the money in and put it in a trust for my kids
Customer: replied 4 years ago.

do you recommend any trust solicitor?

 

best regards

Expert:  SYK replied 4 years ago.

You can search the Law Society website for a local solicitor within your area.

 

Best of Luck.

 

Regards

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SYK
SYK
Solicitor
203 Satisfied Customers
LL.B Honours Law, PgDip in Legal Practice, Solicitor 4.5 years PQE