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Ben Jones
Ben Jones, UK Lawyer
Category: Scots Law
Satisfied Customers: 4
Experience:  Qualified Solicitor - Please start your question with 'For Ben Jones'
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I gave my house to my children and pay them rent for their

Customer Question

I gave my house to my children and pay them rent for their inheritance tax relief. The property is EH10. Rent review every 5 years and judged as a short assured tenancy. I have been here 13 years and the original rent, revalued this month, is now double the original and hurting. Obviously I intended to stay here for the rest of my life. Why then "short assured tenancy". I assume long is cheaper ? Essential to comply with inheritance tax system.
Submitted: 6 months ago.
Category: Scots Law
Expert:  clairep80 replied 6 months ago.

Thank you for your question

My name is Clare

I shall do my best to help you but I need some further information first

Do you mean that you have an AST - Assured Shorthold Tenancy?

Customer: replied 6 months ago.
The lease says
THIRD Duration This Lease will commence on the Eleventh day of July Two Thousand and Three and terminate on the death of the Tenant or renunciation by her.
I don't see any mention of AST.
Expert:  clairep80 replied 6 months ago.

OK

But the rent review treated it as an AST rather than as a Sitting Tenancy?

Customer: replied 6 months ago.
The valuer calls it a short-assured tenancy and values it as a market-value letting. I feel a long let should be a reduced sum? This is of course Scottish Law for Edinburgh.
Expert:  clairep80 replied 6 months ago.

I am sorry - I had not picked up that this was Edinburgh.

I shall opt out and transfer it to the correct section

It may take a few hours - but I know my colleagues will be able to help

Expert:  Nicola-mod replied 6 months ago.
Hello,
It seems the professional has left this conversation. This happens occasionally, and it's usually because the professional thinks that someone else might be a better match for your question. I've been working hard to find a new professional to assist you with your question, but sometimes finding the right professional can take a little longer than expected.
I wonder whether you're OK with continuing to wait for an answer. If you are, please let me know and I will continue my search. If not, feel free to let me know and I will cancel this question for you.
Thank you!
Nicola
Customer: replied 6 months ago.
I am happy to wait,in fact I would rather you wait until I come back to you with details about what type I lease I am holding. The rent has to be market value, to cope with any challenge from HMRC that it meets their rules for giving away a house to one's children. Yet the lease is also life-long. I will contact you again during the following week with more facts I hope. Thank you. NB . EH 10 area in Edinburgh is a sought-after area, but I thought uncertainty might
have affected rents even here.
Expert:  JGM replied 6 months ago.

I am a solicitor in Scotland and I have taken your question. It would be very helpful to see your lease. You can email it to***@******.*** and ask the moderator to send it toCustomer I will then be able to answer your question.

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