CGT

[jmadesignltd]

Dear sir's,
My wife would like to purchase the home she and her elderly mother live in from her brother-in-law for the mortgage price
and not the current market value. £300 Value £800K. The £500K would be a gift in equity.

The house was purchased at the start as a family home her brother-in-law was the only one could get a mortgage so it is in his name
although all mortgage payments and costs where paid by my wife and mother-in-law. The also spent considerable monies on renovation over the years.

What is the position with regards my brother-in-law will be be liable for CGT ? He will not be making any gain on the deal.