Buying out a sibling

Debs1363

My husband and his brother are executors on their late mother’s will which includes a property - my husband is buying his brother out of his share in order to live in the house - are there are tax issues involved with this or can he just give him the money 

Keep_pedalling

The only tax issue is that depending on the value of the share he is buying out there may be stamp duty to pay.

If there are other substantial assets they can minimise this by your BIL taking all of those assets and a smaller share of the house, so that your husband only has to buy a smaller proportion of the house.

Brynsam

Could be stamp duty to pay. That depends on two things: the value of the share your husband is buying and whether, after buying out his brother, your husband will be left owning two (or more) properties?