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INC Law
INC Law, Solicitor-Advocate
Category: Family Law
Satisfied Customers: 14905
Experience:  LL.B, LPC, LL.M, Pg.Dip, Solicitor-Advocate. UK Practising Certificate issued by SRA., DIFC Courts Registered (Dubai)
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I am single and inherited my late parents house in 2013

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I am single and inherited my late parents house in 2013 which I rent out. I own my own home and do not have a mortgage. Can I gift my rented house to my son and daughter?
Jean

Hi,

Thank you for your query. Yes you can gift the rented property to your Son and Daughter. There would not be a Stamp Duty liability if the disposition is a Gift. There will also not be any Capital Gains Tax (CGT) as the disposition would be a Gift. CGT would be payable by your children if they subsequently sold the property.

I hope this answers your question. If so, kindly rate the answer and provide feedback.

If you have any further questions, please do not hesitate to ask.

Many thanks,

INC Law and other Family Law Specialists are ready to help you
Customer: replied 4 months ago.
Many thanks. A great help.

Its a pleasure.

Good luck!