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House inheritance with a twist

barney 20v · 2013-05-03 20:56:27

Hi all, my mam is a widower who lives alone in her house which she owns debt free. She has been suffering I'll health lately and she has proposed selling up her house and helping me buy my first house and living with me. I am approximately 12-18 mths from getting a modest mortgage on my own. Basicly I'm looking to find out…

03-05-2013 8:56pm

#1

barney 20v

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Join Date: January 2010

Posts: 935

Hi all, my mam is a widower who lives alone in her house which she owns debt free.
She has been suffering I'll health lately and she has proposed selling up her house and helping me buy my first house and living with me.
I am approximately 12-18 mths from getting a modest mortgage on my own.

Basicly I'm looking to find out what taxes if any would be payable if
A. My mam sells her place and helps me purchase a more suitable property
B. My mother signs the house over to me while still alive. The house is worth approximately 80-90k
Just for context I am the youngest child and I already look after my mother day to day, this is her idea which tbh has caught me off guard .
Any guidance is very welcome !

0

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