RSWarks

Hi, My father has transferred 100% of his main residence to me and my wife. The value of this property is £550,000 with no outstanding mortgage. I understand that this counts as a lifetime gift. My father will continue to live with me, my wife and children, all as our main residence. My father is contributing to bills, maintenance and repairs but not paying rent. I understand if my dad continues to live in the property without paying rent, this is a Gift with Reservation of Benefit (GROB) and the 7 year gift rule doesn't apply. However, as my father shares the house with me, and we both contribute to household expenses (e.g., bills, upkeep, and maintenance), I wanted to find out if this fall under what's known as a shared occupation exception, and therefore would be exempt from GROB? Kind regards, 

Name removed admin