I live at home with father who gifted me a share in the property for no consideration a few years back. There was no cgt as its always been our main residence. No sdlt was paid as there's no mortgage and it was a true gift.
We are both tenants in common. Can I buy my father's share out as he's going to live with his new woman.
How would I do this, do I need to instruct a surveyor to get market valuation? And would there be sdlt to pay.??
Current price of house is 550k. Are there any other implications I need to be aware of such as iht or poat in buying this half share so the house is fully in my name?
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