If you are buying from your parents they may have a capital gains liability. Better to pay them back the loan over a number of years.Hi @deco87
This is a bit complex, when taken together with your own question recently about gifting money to your parents, and shows how having loans should be more effective than giving out right gifts in these situations.
You're obviously all helping each other out, which is admirable, so there's no point leaving your parents with a tax liability.
If I understand it, your parents loaned 70k to your sister. She now wants to repay that loan. Doesn't sound like an issue?
Or if the house is solely in your parents name, she is buying her 1/3 share? Again, doesn't sound like an issue?
I really think this is a situation where an hour with an accountant would be money well spent.
Best of luck with it.
Unlikely to have much CGT in 2 months??If you are buying from your parents they may have a capital gains liability.
House only bought within last two months
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