Buying Mum's House

[bunny]

My mother currently owns half her house and pays rent on the remainder. As she is now considering retiring, she will be unable to continue to pay the rent easily.

I would like to buy the other half of the house and she will continue to live in the house and will not pay any rent to me. The house will be left to me and my sister upon her death so I need to do this in such a way that I would protect the investment I make either by purchasing the half or a loan that is repayable from the estate.

I have looked into this so far and haven't found much help from the HMRC website. I want to structure it in such a way that I don't open myself up to any income tax liability, if possible but can also see from other posts that depending on how this is done there will be implications on capital gains tax (on any increase in the house value). The estate is likely to be under the IHT threshold so this shouldn't be an issue.

Can anyone suggest the best options to do this.

[section 44]

My mother currently owns half her house and pays rent on the

Can you explain exactly how this is structured (e.g. who are the legal owners and of what (leasehold or freehold) etc).

I would like to buy the other half of the house

Are you actually entitled to do so (it sounds like some form of shared ownership social housing arrangement)?

[bunny]

It is an housing association part buy part rent scheme. I am also investigating the rights on the scheme and whether this can be done but have focused so far on the possible tax issues.