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Jo C.
Jo C., Barrister
Category: Law
Satisfied Customers: 32086
Experience:  Over 5 years in practice
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My parents live in their own home mortgage free. A few years

Customer Question

My parents live in their own home mortgage free. A few years my father died leaving my mother as the sole owner. My wife and I move to live with her rent free as she is 88 so we can look after her.
The following information has been unearthed. The land registery records still show the joint names of my parents. That obviously need to change so that it will my mother's name on the records. However she suggested that I will be added to the records so that it will show that my mother and I are joint owners. Can this be done? If my mother dies, will I have to pay inheritance tax.
Another scenario. Can my mother sell the house to me below the current value on a private arrangement without using a solicitor? Are there any procedures to go through.
Looking on the, there is a statement which says "If you’re married or in a civil partnership and your estate is worth less than £325,000, you can transfer any unused threshold to your partner when you die. This means their threshold can be as much as £650,000." What does that practically mean and how does it work with my father deceased. Could I claim that unused threshold?
What other ways could I avoid inheritance tax
Submitted: 1 year ago.
Category: Law
Expert:  Harris replied 1 year ago.

Thanks for your further question. What was the value of your father's estate and what value of it was inherited by people other than his wife?

Expert:  Harris replied 1 year ago.

Hi, this question remains open. If you found my information provided helpful please could you rate my response positively using the stars at the top of this page as I will not be credited for my response without a positive rating.