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Posted Tue, 09 Apr 2024 07:12:14 GMT by Fizzygig1956 Jacob2417$
I am considering making a deed of variation to give a recently inherited property to my adult children. The intention would be to rent out this property. Would my adult children be able to make a declaration of trust so that I can receive the rental income ?
Posted Mon, 15 Apr 2024 14:42:34 GMT by HMRC Admin 2 Response
Hi,

In these circumstances, by making a declaration of trust, your children would be transferring the beneficial ownership of the property and any income arising from the property to you. In effect they would be giving the ownership of the property back to you.

Thank you.

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