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    • Monty1978
    • By Monty1978 8th Jan 18, 7:19 PM
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    Monty1978
    Can a house be a tax free gift?
    • #1
    • 8th Jan 18, 7:19 PM
    Can a house be a tax free gift? 8th Jan 18 at 7:19 PM
    OK so basically my dad and I are trying to buy the other half of his shared ownership property.

    It's not looking like he can get a mortgage due to his age. We can't divide the ownership of the property so he's thinking of signing it over to me so I can get a mortgage for the half that the housing society currently owns and obviously that will save him having to pay rent on the other half.

    I'm not 100% comfortable with the idea but it might be the only option.

    1- is it possible for a 62 year old on a pension to get a mortgage or is it entirely out of the realm of possibility
    2- if he signed his share of the house over to me, would I get hit by a inheritance tax bill?

    Thanks
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