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House Transfer
cefynbach
Posts: 52 Forumite
7 years ago my house was purchased in my daughters name for reasons that I'd rather not discuss but now we want to transfer it to my name does anyone know how to do this without it costing a fortune, please.
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Comments
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Has your daughter lived in the house? If not she will potentially have capital gains tax to pay on the profits of the sale.
Are you taking a mortgage on the property? If so you will need to apply for a mortgage and your daughter's mortgage (if she has one) redeemed.
Morbid I know, but if you daughter was to pass away within 7 years of the "sale" and she had not received market value for the property, it would be considered part of her estate.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
You will need a Lawyer to make this happen, they will be able to explain everything.Save save save!!0
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Thanks there is no mortgage on the house but I may need to sell it, we are thinking of the future when I may not be able to drive anymore as there is hardly any buses through the village0
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