Transfer of property to 3 children?
my mother currently lives in the house and is entitled to one third of it from her divorce settlement. My fathers name is on the deeds,and he wants to sign the house over to us. What we would like to happen is to sell the house and buy my mother a new house and put it in our 3 joint names. Would we be liable to pay any tax on this? the house is approximately valued at £160,000.Report