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JGM
JGM, Solicitor
Category: Law
Satisfied Customers: 12195
Experience:  30 years as a practising solicitor.
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My friend wants to gift me a house. 1 is this legal? 2 what

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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.

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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?