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Transfer of property within family. Capital gains tax and stamp duty implications
Question: I am selling my house to my mother. She is selling her house however given the state of the property market it may be a little while before it sells. I'm looking for ways around this and am considering goimng ahead with the transfer to my mother. She will need to owe me the agreed purchase price. My daughter will then purchase the house off her at its market value. She will raise a mortgage and use the funds to pay me. I'm looking into the tax implications of all this, particularly given the transactions take place between close family members. I would expect that there would be stamp duty and capital gains implications, although as the properties are both main residences any capital gain would presumably not be a key issue? My question is therefore -- what are the tax implications of this scenario? . . . (to read the remainder of this article, please log in below.)
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