Hi,
What are the tax implications of two siblings (both over 70) purchasing a property to be used by one - the other is a UK resident.
When one sibling 'kicks the bucket' what are the tax implications for the survivor.
Does the division of the share in the property have to be in accordance with the amount of money put in to the purchase price - or can they decide on a 50/50% share?
Thanks for any pointers.
What are the tax implications of two siblings (both over 70) purchasing a property to be used by one - the other is a UK resident.
When one sibling 'kicks the bucket' what are the tax implications for the survivor.
Does the division of the share in the property have to be in accordance with the amount of money put in to the purchase price - or can they decide on a 50/50% share?
Thanks for any pointers.