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Where Taxpayers and Advisers Meet

Adding childs name to a property deeds

cdevlin48
Posts:1
Joined:Sat Oct 07, 2017 6:23 pm
Adding childs name to a property deeds

Postby cdevlin48 » Sat Oct 07, 2017 6:28 pm

Hi,

My parents want to add my name to their mortgage free house so I can use my salary to help remortgage it. My parents have used this house to rent for profit for the last 20 years. What are the tax implications of doing this?

RMC
Posts:435
Joined:Wed Aug 06, 2008 3:35 pm

Re: Adding childs name to a property deeds

Postby RMC » Sat Oct 07, 2017 9:00 pm

Your parents will be charged to Capital Gains Tax calculated as if they sold their shares in the house to you at market value.


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