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buying out a parent's share of home
povan
Posts: 1 Newbie
Can anyone give advice ---my elderly father can't keep up with the council tax he wants to sell me his share of a family property at a below market value value .What's the best way of dealing with this ?
0
Comments
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With caution.
Disposal of assets can have implications for Inheritance Tax, care home fees etc...
Have you checked he has all the benefits he is allowed;
Specifically for council tax, http://www.helptheaged.org.uk/en-gb/AdviceSupport/FinancialAdvice/HelpClaimingBenefits/CouncilTax/as_council_160106_2.htm
Look at Help the Aged, Shelter and CAB websites for additional details.0 -
I looked into this with my parents when they had a BTL property. We were advised against by a financial advisor due to the inheritance complications.Declutterbug-in-progress.⭐️⭐️⭐️ ⭐️⭐️0
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