Transfer of Title Deeds and Equity

[Neil001]

Hello,
About 3 years ago my wife and I moved into her mother's house after the death of her father. The house and garden were too much for my mother-in-law as it badly needed up-dating and we have taken on the task to bring it up to modern standards. Some years ago my wife's parents took out an 'equity release' mortgage which has now accumulated to a charge of approx £120K on the property, the house has been recently valued at £245K. My mother-in-law, now in her late 80's wishes to gift our family the remaining equity in the house can she do this without attracting SDLT ?
The likelihood is that we shall sell the property and move closer to my place of work. Should/could we change the title deeds and should wearrange another mortgage to pay off the existing charge ?
Any advice would be gratefully received.

Many thanks
Neil

[Lee Young]

Gifts can be made without incurring SDLT, as long as the donees do not take on the repsobnsibility for paying off the equity release.

Why would your mother-in-law be doing this?