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buying house with mother
bobbyj_2
Posts: 351 Forumite
in Cutting tax
put this on savings thread but probably better here:
my sis in law wants to buy a house with her mum - prob a holiday home. They are both reasonably wealthy and prob both have upwards of nearly a million each. They'll be going halves on the purchase but I've said her mum is prob best 'gifting' her half to mitigate IHT. The house will be in the region of £500,000 so obviously £250,000 each. Surely my suggestion is correct as her mother is only early 60s so should be around another 7 yrs. Thanks.
my sis in law wants to buy a house with her mum - prob a holiday home. They are both reasonably wealthy and prob both have upwards of nearly a million each. They'll be going halves on the purchase but I've said her mum is prob best 'gifting' her half to mitigate IHT. The house will be in the region of £500,000 so obviously £250,000 each. Surely my suggestion is correct as her mother is only early 60s so should be around another 7 yrs. Thanks.
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