Flat shares

[musty]

My parents (early 60Â’s) have recently gone through a very acrimonious divorce. My mother has put her settlement towards a flat but at inflated London prices she could find nothing half decent.

My father was not prepared to pay her more that the settlement required, but to compromise he agreed to give me funds (a PTE) to put towards a flat for my mother. I have my own home and will not reside in her flat.

We were advised to make the purchase as joint tenants as it is my motherÂ’s wish that her share of the flat would pass to me on her death. It was explained to us that on her death I would have to pay any capital gains due on my share, and her share would form part of her estate for IHT. Funding was very close to 50% each.

Hopefully it will be 20 or more years before my mother dies, and I am concerned that there should be some firm record of our shares of the flat that will stand the test of time many years from now.

Any advice on how this can be achieved would be gratefully received.