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help needed re selling of share of house
melb
Posts: 2,897 Forumite
Hello all hope you might be able to advise my OH. He and his brother were joint beneficiaries of their late father's house. My OH's brother wants to live in it and buy out my OH. An amount has been agreed and the property has been registered voluntarily at the Land Registry. My OH (as executor of his father's will) wants to transfer ownership of the property from his late father's name to his brother's name and the former will receive the agreed sum. There will also be a further amount of I think £20,00 - 30,000 should the brother sell the property in the future or to come out of his estate should he pre-decease my OH (the brother has no dependants). My question is on paper this looks a fairly simple procedure for which solicitors are wanting a fair amount of money - a few hundred pounds. But is it as simple as it sounds and will my OH and/or his brother be liable for any tax or stamp duty implications? Hope someone can offer any advise.
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