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Aston Lawyer
Aston Lawyer, Solicitor
Category: Property Law
Satisfied Customers: 10458
Experience:  LLB(HONS) 23 years of experience in dealing with Conveyancing and Property Law
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I am a trustee of my deceased mothers property with my step

Resolved Question:

I am a trustee of my deceased mothers property with my step sister who is acting as power of attourney for her father. Myself and my brother are to share equally the proceeds from the sale of the property. The property is up for sale, but my brother has said he would like to purchase the property. We have been told we will have to pay capital gains tax he wants to purchase the property for half the market price (which he would give to me) will this be legal or will he have to pay full market price and then get half back.
Submitted: 1 year ago.
Category: Property Law
Expert:  Aston Lawyer replied 1 year ago.

Hello and thanks for using Just Answer. I am Al and am happy to assist you with your enquiry.

If your brother is legally entitled to half of the property, it is perfectly OK for him to proceed with the purchase and to pay only half of the value.

I hope this answers your question, but please let me know if you require any further clarification.

Kind Regards

Al

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