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Joshua
Joshua, Lawyer
Category: Family Law
Satisfied Customers: 31616
Experience:  LL.B (Hons), Higher Prof. Dip. Law & Practice
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My dad put my name on the deeds of the family home when I

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Hello..my dad put my name on the deeds of the family home when I was aged 24 in order to secure a remortgage to buy a shop..my dad has now passed some years ago and my mother is sorting out her will and wishes to own a100% of the house in order to share it equally amongst my 5 siblings
JA: Since estate law varies from place to place, can you tell me where this is?
Customer: In London Waltham Forward10 ..can I s
JA: What documents or supporting evidence do you have?
Customer: In London Waltham forest can I sign my 50% over to my mother without incurring any capital gains tax or any tax..My name is ***** ***** deeds on the family house
JA: Is there anything else the Lawyer should know before I connect you? Rest assured that they'll be able to help you.
Customer: No

Hello and thank you for your question. My name is ***** ***** I will be very pleased to assist you. I'm a practising lawyer in England with over 15 years’ experience. Please be aware that although I will endeavour to reply to you promptly, I am also in full time private practice and so I may not be available to respond immediately and it may also take me a few minutes to prepare a reply. The site will notify you as soon as I respond. I look forward to working with you to answer your question fully.

  1. May I confirm if you have lived in the property for the duration of your ownership please?
  2. has your mother lived in the property during that time?
  3. Was the transfer into your name subject to any legal right for your mother to live in the property

Customer: replied 6 days ago.
I was not living there when the remortgage took place. My mother has and still lives there. 3. I don't understand this question, however my mother own the house as I said previously my dad needed me to remortgage because off his age hence why my name is ***** ***** deeds. My late father's will left all his estate to my mother. My mother wants my name off the deeds to enable her to split the home equally amongst her children

thank you. With regard to my query numbered 3, I was wondering whether the gift your father made to you of the property was discussed as being subject to any right for your mother to continue to live there - e.g. I am giving you the property but your mother has a right to live in it for as long as she wishes. or was nothing of this nature discussed or agreed?

Customer: replied 6 days ago.
No nothing was discussed this all happened in 1984

thank you. There is generally in English law no presumption of a gift when somebody give something to somebody else but there are certain narrow categories of relationship where a presumption of a gift does arise which includes father and child.

As such, there would be a presumption that the transfer of the property to you amounted to a gift unless you are able to prove otherwise which may not be an outcome which is desirable from the point of your capital gains tax.

In terms of capital gains tax, if you have not been living at the property for the entire period since your father transfer the property to you, capital gains tax would apply for any periods you have been absent from the property unless you own more than one property and made an election to HMRC nominating the property as your main residence which I will assume you have not done unless you tell me differently.

As such, if you decide to sell or gift the property to your mother, this would amount to a disposal for capital gains purposes and there would be a capital gains tax assessed on the increase in value of the property as between the transfer into your name and the date you transfer it to your mother based on its market value whether or not you sale or gifted to her. As such, it may be that transferring it to your mother may not be the most tax efficient decision to make.

The position would be different if you were able to show for example that your mother was given a right of occupation in the property because this would potentially allow you to apply for relief in respect of capital gains tax but from what you say, this was not the case.

Customer: replied 6 days ago.
Thank you very much. I will digest it all and speak to my mother and siblings and make a decision.. Thanks once again

I'm glad the above answers all your questions for now. If you have any follow up questions please revert to me.

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