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Would this be classified as a gift?
Imagnu_2
Posts: 112 Forumite
Our mortgage was in joint names, but was always paid by my late husband out of his sole account. Deeds show us as tenants in common. Would the mortgage payments be counted as a gift when filling in Inheritance Tax forms?
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Comments
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No. He was servicing a debt and benefiting from living in the property.Googling on your question might have been both quicker and easier, if you're only after simple facts rather than opinions!2
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Even if it was a gift, gifts between spouses are exempt and do not have to be declared.1
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