If I were to transfer part or whole ownership of a property to ANOTHER whilst I continue to live in the property ,and acknowledging that there would be a rental payment to be made by me to ANOTHER,would this transfer constitute a PET with its 7 year duration before becoming IHT exempt.
Does the fact that a rent is paid have any bearing on the transfer,or is it still regarded as a Gift for IHT purposes?
NB. I refer to ‘I’, but present ownership is Husband and Wife as T-in-C,and ‘ANOTHER’ would be two sons.
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