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Hello, I hope you are well. My name is***** am a solicitor advocate and I will be assisting you with your question today. I am very sorry to hear of the problem you are experiencing and I will do my best to help you with this matter.
Yes you can sell your property to your son for what ever price you wish to, or even gift the property to him.
However, there can be tax implications to this that you may need to think about, such as inheritance tax, capital gains tax, also deprivation of assets is something to consider, should you need t9 go into a care home in the future.
Any value below the current market value, would be considered a gift.
If you were to die within the next 7 years then that amount would be subject to IHT at the decreasing rate over that 7 year period.
you are deemed to have sold the residence at market value for CGT purposes- although this will not be a problem if it is your principal private residence and has been throughout your ownership.
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