Buying parent's house through my LTD company

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username901 wrote: »

The part im most clueless about is when it's time to sell the property how is that handled? Is the property listed at full price and then explained to buyers that there are two 'shares' they need to purchase? Or is the property purchased from my parents who in turn would settle the 10% share (or whatever it is) after completion? Would it be simplest for mum to purchase the share back from my company prior to listing (most likely funded by myself at that point) when the time comes?

Sorry for all the (potentially dumb) questions

it is handled in exactly the same way as if the company were not a co-owner

- Parent signs the sale contract as a co-owner, company signs the sale contract as a co-owner. Both owners have signed, contract is valid, and is exchanged with buyer.
- Buyer pays money to conveyancing solicitor at completion date.
- Solicitor splits money according to respective ownership share and sends money to respective (ex) owner.

Parents pocket money without any tax deduction since it was their main home, so tax exempt

Company accounts for loan repayment, and (any) profit, and pays tax on profit as part of its annual accounts