Maatushri

When you hold a mortgage free property as joint tenant with your son, can he forgo his share of the rental income in favour of his mother. Or does it have to be split as per the percentage of holding in the property. Would Form 17 work in this scenario. Thanks

I have a rental flat which is my only property. I don’t live there and not likely to, It’s mortgage free and I would like to continue to receive rent. I would like to add my son as joint tenant. Is there minimum % of equity (say 10%) I need to transfer to make it joint tenancy? Would the property automatically transfer to him on my death. If I die before 7 years will the IHT be tapered on just say the 10% value.