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Posted Thu, 26 Sep 2024 07:52:48 GMT by Ian Sherring
My sister an I are equal beneficiaries of my late mothers property. My sister is currently living in the property and has done so for a number of years. My sister intends to buy me out of my half of the property and the property has increased in value since the date of death / acquisition. Does it make sense to Assent the property first (as per the will) before a Transfer Of Equity as I understand that the estate only has one capital gains allowance?
Posted Wed, 02 Oct 2024 09:56:28 GMT by HMRC Admin 10 Response
Hi
HMRC does not give advice on how to pass on your own property, money, and possessions. There are several routes you can go down if you want to transfer property to family members. The types of transfers you can do, property transfer costs, and the different taxes you might have to pay all depend on a variety of things. We would recommend you take legal advice to decide on the best option. 

  

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