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  1. M

    Buying a house – potential for gift tax liability?

    Thanks for the advice guys. The house is not worth 280k. An engineer has done a detailed survey for us and has estimated there is 70k required to modernise and repair. The most recent sale in the area for a similar property was 260k and that was in turnkey condition. This one is not. We're...
  2. M

    Buying a house – potential for gift tax liability?

    My grandmother died earlier this year. One of my aunts and my uncle are executors to the will. The house was willed to my grandmother’s six children (my father along with his brother and four sisters). The six of them had a meeting to decide what to do with the house. It was agreed to give me...
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