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Selling house to family member - gift it back?
bingobangobongo
Posts: 218 Forumite
This might sound like an odd question, but if I sell my house to my (for example) mum - at market value, can she 'give' it back to me in the short term?
Any difference if the house is sold to a sibling, and then given back?
I know this is a weird question - but assume its hypothetical. What are the implications of this?
Any difference if the house is sold to a sibling, and then given back?
I know this is a weird question - but assume its hypothetical. What are the implications of this?
0
Comments
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This will only happen if your Mum has the cash to buy it in the first place. After a few months she can sign it over to you using a solicitor. She could just give your the cash to save on the legal fees.
You should read up on deprivation of assets and the care home means test and inheritance tax avoidance in the gov websites."Dream World" by The B Sharps....describes a lot of the posts in the Loans and Mortgage sections !!!0
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