Main Residence and ownership/taxation

[atto40]

Hello

Im hoping to get an answer for the below which will help me to forward plan.

My main residential home is in my name and my mothers (has been for over 20 years). We live in the same home and have no second home.


I want to remove my name from the main residence (as i want to buy my own home soon). So i was thinking to replace my brother on the deeds as he also has lives at the main residence, so :

1 - will there be any tax implications for him when he is added on ?
2 - my mother is getting old so if the worse happens, will there be any tax implications for him should she pass within the 7 years of him being added in ?
3 - main res has no mortgage

im just looking for a solution that can add him in without gettting an unexpexted bill from HMRC

Plus is there anything i need to be wary of in advance ?

Thank you

[bd6759]

This has no implications for your mother. You are disposing of your interest: presume your mother is keeping hers.

You have no tax implications because you are disposing of your interest in your main residence.