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Remus2004, Barrister
Category: Property Law
Satisfied Customers: 2456
Experience:  Over 5 years in practice.
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I would like sell, at less than market value, my two bedroom

Customer Question

I would like sell, at less than market value, my two bedroom apartment to my daughter. I have been renting this property over the past 15 years on the open market.
The current value is £170,000.00 and I am thinking of selling to her for £60,000.00.
Are there any restrictions on doing this please? Are there tax liabilities?

Thank you

Submitted: 4 years ago.
Category: Property Law
Expert:  James Mather replied 4 years ago.

Hello, I am Law Denning and I am a practising solicitor in a High Street practice. I have been an expert on this website in UK law since 2008. During that time, as you appreciate, I have answered thousands of questions from satisfied users on a variety of subjects. Because we are all in practice with clients and court and other users, I might not always respond in minutes. Please bear with me in that case

It is my pleasure to try and assist you with this today. Please bear with me while I gather some further information from you in order for me to be able to advise you fully.

Unless I have all the facts that I need, my answer would not be accurate.

How much did you pay for the property? When?

Have you ever lived in it?

When? Is there a mortgage? Why do you want to do this?

Will you retain any interest or will it be hers to do with sell, etc as she likes?