long term tennant purchase/corporation scheme

G

Genius

Registered User
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My mother can buy her corperation house at 33% discount through them but as she hasnt the money or inclination to do so.
Was wondering if there was a way for me to get the house, through me paying for the house through a loan{bank already approved amount} giving this money to mother & then her passing over the house to my name somehow.
Just wondering what penalties would incurr ...inherritance tax e.t.c.
Sorry for the badly phrased question but a 33% discount must be some way i can take advantage of this oppertunity as my mother is all for me to take over the house.
any help.
Thank you
 
You can't buy the house but your mother can. She goes on deeds and you go on the mortgage. The house will be hers and she can leave it to you in her will. Are other family members ok with this? She could change her mind etc. although I think you'd still have a claim as you'd be paying the mortgage. Maybe some of the legal eagles on AAM can advise on this.

A child can inherit 478K approx from a parent without any tax liability provided you haven't received any other substantial financial gifts. There are other posts on AAM with regard to this question so try doing a search.
 
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