L
loopydub
Guest
I was hoping someone on here could help:
My Father owns a house and wants to transfer it to us in equal shares. We don't want to sell it as it is of sentimental value. There are 4 kids in the family and he wants to give it to us in equal shares. The propertys market price is around 300k and he wants to give us an equal share each.
I was wondering if this is possible and if there is any capital gains tax/CAT/or inheritance tax payable for any of us.
Also can my parents still have a life interest in it and keep any rent made from it till their demise?
Thanks so much in advance.
My Father owns a house and wants to transfer it to us in equal shares. We don't want to sell it as it is of sentimental value. There are 4 kids in the family and he wants to give it to us in equal shares. The propertys market price is around 300k and he wants to give us an equal share each.
I was wondering if this is possible and if there is any capital gains tax/CAT/or inheritance tax payable for any of us.
Also can my parents still have a life interest in it and keep any rent made from it till their demise?
Thanks so much in advance.