I bought a small property, registered it in my daughters name

1. The most obvious pitfall is that you don't own the property. So you will need the agreement of your daughter to re-transfer the property to you. Whilst it is clear that there is a resulting trust back to you of the property, as you purchased it, you will still need the formalities completed by your daughter to give you back the property. For this reason I would recommend that you get a solicitor to do the conveyancing as it is important from your point of view that the legal position is properly explained to your daughter. Otherwise the re-transfer of the property to you could be set aside subsequently, if your daughter objected in years to come. So, you need a proper "paper trail" on the re-transfer, as the biggest pitfall is if yourself and your daughter fall out over it or in years to come. So for this reason, you need to ensure that the re-transfer is properly-legalled. 2. Please RATE the Answer as unless you RATE the Answer your Expert will receive none of the money you have paid the website so there is no incentive to answer any further questions.