Our elderly parents have resided with us in our home for several years. Sadly they have decided to live apart but not divorce. My mother will continue to reside with us but my father will move into a buy to let that they have owned jointly for many years, but have never lived in.
They sold their primary home when they moved in with us and currently do not have a primary home.
What will be the status of my father’s residence when he moves in?
Will it become their primary home despite the fact that our mother will not reside with our father
Our parents are comfortably off and the value of my father’s new residence would help mitigate their eventual IHT liability if it can be recognised as their primary home and thereby benefit from the new IHT allowance on primary homes left to children or grandchildren.
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