How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask JGM Your Own Question
JGM, Solicitor
Category: Law
Satisfied Customers: 12195
Experience:  30 years as a practising solicitor.
Type Your Law Question Here...
JGM is online now

My friend wants to gift me a house. 1 is this legal? 2 what

This answer was rated:

my friend wants to gift me a house. 1 is this legal? 2 what fees would have to be paid? It's not his main residence and has never lived in it.

1. Yes it is legal. 2. Fees and land registry costs would depend on the value of the house but typically about £1250. 3. Your fiend would pay capital gains tax potentially based on the uplift in value from the time of purchase. Happy to discuss. I hope that helps. Please leave a positive rating so that I am credited for my time.

JGM and other Law Specialists are ready to help you
Customer: replied 1 year ago.
Brilliant thank you for that piece of mind. Is this the best way forward or is there a way for him to gift me the cash so I can make the purchase myself straight off in my own name?