CGT own one property other i rent elseware

[in between2]

Sorry apologise in advance

I own a property, mortgage be paid soon, which my 2 adult children live in, I'm on deeds as well as one of children,(long story)

Anyway for very personal reasons I had to move away from area,so rent elseware, which I now class as home. My adult children stayed in family home.

will my property I'm no longer living at be liable for CGT, I have no itentions of selling it atm , but thinking later down the line my children may want to sell it.

I was intending once mortgage paid to transfer my name off deeds and put other adult child on.

Would I then have to move back to owned house and make that main residence to get benefit of personal tax relief, which I can now do as circumstances change.

I will still rent property elesware as more happier their

confused

[maths]

You say that you and one adult child are on the legal title. The key question is when the adult child was added to the title what was the intention? More specifically was any declaration of trust executed under which you and adult child's beneficial interests were identified?

Was the child added whilst you were still living in the property? Potentially, a CGT charge may have arisen at that time.

How long is it since you left the property?

If the house is sold in the future you may have a CGT charge on any gain made on your part and so may your adult child.