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deed of trust and capital gains
awakefield100
Posts: 2 Newbie
Hi there. I am in the process of buying myself a property for £160,000 with my dad, as I could get get a large enough mortgage otherwise (he will not be living there!). We are taking out a joint mortgage and are getting a deed of trust drawn up. does this, or can it, protect me from capital gains in the long run if the property is fully transferred to me when i can afford it or if I decide to sell at some point. Thanks.
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Comments
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This will be your principal residence so capital gains wont apply anyway.
Is he going to be on the actual deeds or just the mortgage? Your dad would be at risk of capital gains if he is registered as owning half the property and you were to die.0
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