Hi all
New to this forum, so apologies if this topic has been discussed before.
My mother and I bought our council property in 1995. Leasehold. We lived in it as council tax tenants since 1985; it was my childhood home. When bought in 1995, it was bought as joint ownership between the two of us. I lived in it until 1999, and then moved away for work. She and I own no other property. She moved out the property in 2007, and we have let the property out since. She has been very generous and all property income from the flat since 2007 has come to me, on which I have paid tax. Flat worth about £700k. We have never charged each other rent when only one of us living in the flat. When bought it was to live in it, not a buy to let. In her will she has left the flat to me, but as joint ownership I think the flat would automatically transfer to me at her death. I was just wondering if there are any iht blind spots that might be around the corner that I may not predict, or whether I may be free from paying iht on her part of the property when she dies.
Thanks in advance .
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