adding names to property deeds

Postby mimi_tem@yahoo.co.uk on Sun Apr 02, 2006 4:37 am

My mother has recently made a new will and put me down to inherit her house,she has other children but has just given them money as they are financially secure and i am not. She is now worried as the solicitor seems to have told ehr that the house will be sold to pay "fees" etc, and the money left will go to me. She has no debts, no mortgage and everything is straightforward, now she wants to move so we can buy something together but i know she loves the house she is in and is only doing this because of what she has been told, surely the fees are not going to be that much? Can she not put my name on her property deeds to save her the stress of moving at 82 yrs old just so i get the house?
mimi_tem@yahoo.co.uk
 
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Postby adelante on Sun Apr 02, 2006 6:09 am

Depends how much the house is worth. If less than 275000 then no IHT to pay. If worth more then there will be IHT to pay at 40% above that amount. The house does not have to be sold.
adelante
 
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Postby Webb on Wed May 30, 2007 12:05 pm

My mother wishes to do the same i.e put her childrens names on the deeds - 2 of the children live with her and one does not. Will there be any IHT - her estate is worth more than £300,000 or any other tax i.e Capital gains - even if she survives a further 7 years??
Webb
 
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