I own a house on tenants - in - common basis with my mother, and our respective shares are 84% for her, and 16% mine. This is her primary residence, I dont reside there. I have taken over full responsibility for the mortgage payments, and to reflect this we wish to reassign the percentages of ownership to 84/16 in my favour. Iam the sole beneficiary of the house in her will. Can you advise on the tax implications, when I finally inherit the house and it is sold, and can the percentages be reassigned without incurring any tax charge?
Thanks
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