-
I was looking into this recently but couldn't find anything definitive. My MIL is looking to gift a third of her house to her daughter. The daughter had actually been paying the mortgage for ten years but via the mother rather than directly. She also has two bedrooms exclusively for her use there.
If she's contributed towards the mortgage she may already own part of the property as a result of a common intention constructive trust.
I struggled to find anything definitive on whether this would be sufficient to classify it as a gift. Any pointers on where to look?
HMRC guidance is probably a good start.
Brommers-
Cheers. I've read the HMRC guidance but there's not much in there about part ownership. Common intention constructive trust gives me something else to look up though.
@TW so far as I've read charging rent should make it permissible. You have to be very careful though to ensure that the rent is always market value.
aggi
I was looking into this recently but couldn't find anything definitive. My MIL is looking to gift a third of her house to her daughter. The daughter had actually been paying the mortgage for ten years but via the mother rather than directly. She also has two bedrooms exclusively for her use there.
I struggled to find anything definitive on whether this would be sufficient to classify it as a gift. Any pointers on where to look?