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Inheriting my parents’ house

bjb0573 · 2020-12-11 10:44:32

My parents are in their 70s and own their own home outright. I am their only son and will be the sole beneficiary of their property and savings. They both have wills which indicate all of this this. I’m trying to understand if there is any benefit / advantage in signing over the ownership of their home to me in advance of…

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csgohan4 Posts: 10,600 Forumite

12 December 2020 at 10:05AM

OP what is purpose of transferring the house in your name now?

Is it inheritance tax planning? if it is can you list the advantages?

I can only see a long list of disadvantages at present from the above.

You will lose your FTB status if you don't own a house already and be subject to addition stamp duty rules now or in the future

"It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"

G_M/ Bowlhead99 RIP
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