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Selling my Nan’s house
11 replies 601 views
My Nan is 101 yrs old and hasn’t lived in her own home for the last couple of years. My mum and uncle have been taking care of her. Two weeks at one and the two weeks at the others. She owns a home which is not near to either my mum or uncle. They are considering selling it. The house is worth around £450k. She has no other savings as such. My mum and uncle are both in their mid to late 70’s and are finding it a struggle to look after the house hence selling it. My Nan lost her husband 30 odd yrs ago. I understand that if they kept the house until she died inheritance tax would not apply. Would just the first £325k be tax free or would her late husbands tax free amount be taken into account?