Sarah Grahame
Joined: 8/9/2024
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CGT on rental property and care debt of late joint owner
My mother and I were joint owners of a rental property until her recent death, when it reverted to me by survivorship. As she had heavy deferred care payment debt, the house will have to be sold so that her half can got towards paying the debt to the council. As it should fetch more than we paid for it, CGT will probably be due. As I will only receive half of the its value, will I still need to pay all of the full CGT on it? Would it make any difference if the council forces the sale?