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Selling my home

I am leaving the UK and my daughter and her fiancé who live with me in my home wants to buy it , we have come up with a price and a payment plan that suits everyone , a large deposit and payments over a ten year period or sooner , we do not need a survey but we are told we both need different solicitors , can I keep my name on the title deeds and once all has been paid it will be taken off 

Comments

  • p00hsticks
    p00hsticks Posts: 14,505 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    You would probably be better putting the property into their name and then placing a charge on it until they have fully paid, in the same way that a regular mortgage company would do. If you keep it in your name I think you would be starting the clock ticking on a potential capital gain when you came to eventually sell it to them. 

    I'm not sure of the tax situation that would come into play - I presume you won't be charging them interest ?  

  • Bookworm105
    Bookworm105 Posts: 2,015 Forumite
    1,000 Posts First Anniversary Name Dropper
    edited 6 March at 5:18PM
    what is your new country's attitude to taxation of overseas property?

    what do you think the UK's position will be on taxation of UK property held by non residents in 10 years time?

    much simpler to do as above, put a charge on the property and come off the deeds 
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