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Legal House Buying at a Low Price...?
tictoc_2
Posts: 3 Newbie
In Scotland, can I legally purchase a house from my father for a fee that is considerably less than the market valuation of the house? Reason being purely to change ownership of the house and to permit my father to have funds to build another house. Also from an inheritance tax point of view, would his estate be excluding the value of the house?
Thanks in advance!
Thanks in advance!
0
Comments
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He can even gift you the house for a £1 the price is determined between buyer and seller, though for tax purposes if he dies within so many years the tax man will want his fair priced share !0
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