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F E Smith
F E Smith, Advocate
Category: Law
Satisfied Customers: 14276
Experience:  I have been practising for 30 years.
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My parents want me Assistant: Where are you? It matters

Customer Question

My parents want me
Assistant: Where are you? It matters because laws vary by location.
Customer: rp be able to buy their house doe below market value - are we allowed to do this and would I be subject to capital gains tax once they have passed if we then sell it? And would it be a percentage of the difference between what we purchase it for now and the overall selling price
Assistant: What steps have you taken so far?
Customer: thank you
Assistant: Anything else you want the lawyer to know before I connect you?
Customer: Nothing as yet my parents have given my brother and sister vast amounts of money over the years so wanted to ensure that I am afforded the same and we thought that they would be able to have some money now also and then the house would be mine when they pass my siblings are in agreement thanks
Submitted: 5 months ago.
Category: Law
Expert:  F E Smith replied 5 months ago.

Good afternoon. I will assist with your question - be aware this is an email not chat service therefore maybe delayed in replying.

have your parents made wills?

have your siblings put it in writing with solicitor that they wont claim on the property - as they already have had their share?

Customer: replied 5 months ago.
They currently have wills which they wish to change and have made an appointment to do this but I need to be sure everything is above board before they make any changes
Customer: replied 5 months ago.
My siblings are willing to put this in writing
Expert:  F E Smith replied 5 months ago.

I’m sorry, but I simply don’t understand the background or what you are asking.

Can I have the detail from beginning to end please because I’m sorry to say it’s a bit disjointed and incomplete. Thank you