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Related UK Property Law Questions
I am a 50% co-owner of a property in England, my father owns
Hi, I am a 50% co-owner of a property in England, my father owns the other 50% and he wants to pass his 50% equity to me !! .. is this possible and if so will either of us be subject to Inheritance Ta… read more
Aston Lawyer
Aston Lawyer
Head of Residential Property
LLB (HONS)
3,776 satisfied customers
I have lived at the present property since 1988 looking
Hi I have lived at the present property since 1988 looking after my mother she has since died leaving the house to me my two sister and brother both my brother and one of my sister have since died (la… read more
Joshua
Joshua
Lawyer
LL.B (Hons), Prof. Dip. Law & Pract
11,922 satisfied customers
Prior to my father's death my brother and I owned 25% each
Prior to my father's death my brother and I owned 25% each of his house; my father owned the other 50%. At my father's death my brother and I inherited the remaining 50% of the house (25% each plus ot… read more
Joshua
Joshua
Lawyer
LL.B (Hons), Prof. Dip. Law & Pract
11,922 satisfied customers
I have a UK IHT question. I will outline the scenario.
Parents own a valuable property in central London that is their main home. Youngest parent is 80. Are keen to consider gifting but still need a smaller property to live in as a replacement for their main home which is becoming impractical as they age. There are 2 siblings and they want to treat both equally in the transaction. One child (us) has significant disposable cash to potentially 'buy' the other out and one does not have the money but is open to being bought out. Somehow the parents need other accomodation, and cannot afford this themselves despite the high value of their property (and want property to stay in family)- How should we progress an equitable arrangement whilst recognising the risk that the property may end up within their estate for tax purposes (7 yr rule) given their age?- Does giving the second sibling money in recompense constitute a taxable event for one / both?- What taxable impact / risk if any is there if the sibling that is recipient of the gifted property then buys a different property for the aging parents to live in?- How do we mitigate the arrangement for the fact that one sibling has to buy a new property for the parents as well as having to buy out the other sibling?Also - The sibling with the cash is domiciled for tax purposes in USA, but will return to UK within a year or two to take up residence at the parents property as main home. Perhaps the transaction also creates an issue here. Thankyou!… read more
Nick H
Nick H
LLB
125 satisfied customers
I own property A (which I currently live in) outright (i.e.
I own property A (which I currently live in) outright (i.e. with no mortgage). Recently I bought another property (let's call it property B). Once the refurbishment is done, I plan to move in property… read more
Joshua
Joshua
Lawyer
LL.B (Hons), Prof. Dip. Law & Pract
11,922 satisfied customers
My husband and his two brothers are the beneficiaries of his
My husband and his two brothers are the beneficiaries of his fathers estate. the bulk of the estate is the house. 2 brothers would prefer the house to remain in the family - nice idea, the plan is to … read more
Stuart J
Stuart J
13,509 satisfied customers
Hello there, We family members want to sign a Trust Deed
Hello there, We family members want to sign a Trust Deed to record our arrangements in property purchases and ownership in England (UK). Can you please point me to or send some samples of the Trust De… read more
INC
INC
Solicitor-Advocate
Master's Degree
832 satisfied customers
We have a property which was left as part of my late brothers
We have a property which was left as part of my late brothers estate. The family have agreed to allow our sister to sell her property and the proceeds would go to the estate and she can have our late … read more
Alex J.
Alex J.
Law
LLB
447 satisfied customers
We are resident in France but have a first home in UK. We
We are resident in France but have a first home in UK. We are selling this house and buying a smaller house which we are going to give to our daughter and cash to the other daughter. Is this OK? We th… read more
Thomas
Thomas
Lawyer
Bachelor's Degree
1,343 satisfied customers
Hi, I am approaching a financial settlement and question the
Hi, I am approaching a financial settlement and question the following. I have a property valued at 400k, a mortgage od 242 and other liabilities of 45k ( in my name ). - I believe the equity share sh… read more
Clare
Clare
Solicitor
Bachelor's Degree
1,329 satisfied customers
I want to establish a company in London to start purchasing
I want to establish a company in London to start purchasing properties in favor of my company but I don't have any idea how I have to do that and I should contact who?… read more
Alex J.
Alex J.
Law
LLB
447 satisfied customers
My Parents own a house that is worth approx 250,000. My dad
My Parents own a house that is worth approx £250,000. My dad is retired, and my mum is earning approx £12,000 pa. The house has a mortgage of £100,000 (interest only, three years left). We would like … read more
Joshua
Joshua
Lawyer
LL.B (Hons), Prof. Dip. Law & Pract
11,922 satisfied customers
Hi, my mother is planning to give me her flat and I am also
Hi, my mother is planning to give me her flat and I am also going to give her the money to buy a new house and she will move there. My question is whether to process the transfer of the flat as a sale… read more
Joshua
Joshua
Lawyer
LL.B (Hons), Prof. Dip. Law & Pract
11,922 satisfied customers
I have several investment properties (residential and commercial)
I have several investment properties (residential and commercial) which are owned by my UK Ltd. company. I am the only director and 100% shareholder. I am now planning my will and wish to leave the pr… read more
Alex J.
Alex J.
Law
LLB
447 satisfied customers
My elderly mother has a property worth approx 300k with a
My elderly mother has a property worth approx £300k with a mortgage of approx £130k on it. She would like to sign the house over to me and my wife and for us to take on the mortgage. By doing this she… read more
Joshua
Joshua
Lawyer
LL.B (Hons), Prof. Dip. Law & Pract
11,922 satisfied customers
I have made an offer on a residential property in North Carolina,
I have made an offer on a residential property in North Carolina, USA. I live in the UK. Do I need to engage a UK solicitor? Margaret Mole… read more
Joshua
Joshua
Lawyer
LL.B (Hons), Prof. Dip. Law & Pract
11,922 satisfied customers
Conveyancing Question and legal advice - I am looking for
Conveyancing Question and legal advice: - I am looking for the most cost effective and appropriate way in taking-over/buying my parents property. The market value for their property is worth approx. £… read more
Aston Lawyer
Aston Lawyer
Head of Residential Property
LLB (HONS)
3,776 satisfied customers
My mother would like to transfer the ownership of her house
: My mother would like to transfer the ownership of her house into my sole name. Her property has no mortgage. I currently have a mortgage on my own property - which is in joint names. 1. If the trans… read more
Clare
Clare
Solicitor
Bachelor's Degree
1,329 satisfied customers

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Thomas

Thomas

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BA (Hons), PgDip, Practising Solicitor

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Clare

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25 years exeperience

INC

INC

Solicitor-Advocate

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LL.B, LPC, LL.M, Pg.Dip, Solicitor-Advocate. UK Practising Certificate issued by SRA., DIFC Courts Registered (Dubai)

Alex J.

Alex J.

Law

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LPC, 2 Years Conveyancing

Buachaill

Buachaill

Barrister

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Barrister 17 years experience

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Matt J

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LLB(HONS)

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John Knox

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solicitor with 8 years experience

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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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