changing names on freehold

[blackdano]

I own three flats in one block,with no charge,one is family home which I bought the freehold of and the flat came with it,no lease.the other two
bought with long leases.I am sole freeholder but want to put the names of my three children as the freeholders.I suppose theoretically the freeholders could be the owner of the three flats as the present leases could be cancelled??Will this cause any problems tax or otherwise and what
would be the cost?I want to keep receiving the two rental incomes of which I do self-assessment.I live abroad and don't want to be taxed on my
WWA in the country I live hence the passing of the freehold to the kids but not really giving them the flats?...any advice would be appreciated.
many thanks gents.Dano

[section 44]

Are your children adults (they would need to be to legally own property)?

Subject to any relief or exemption, for capital gains tax purposes there would be a market value disposal by you.