Son has old house value in the region of 60K in which his sister lives rent free. What is the most tax efficient way to transfer the property into her name. I understand she would have to pay gift tax on anything in excess of 32,500 plus the 3000 annual exemption. She would not qualify for a mortgage as she has just started work and has no savings history. If parents buy property from son and then transfer to his sister would that be a more efficient manner. Is there any other taxes involved apart from CGT which he would have to pay on increase in value of property since he purchased it.