L
Laurel
Guest
I wonder if anyone can shed any light in this situation. My parents recently separated and my mother was awarded the family home (only asset). She plans to sell the house and purchase her smaller home for herself and a second residence.
My question is, is she liable for tax/capital gains (she is 59 years of age)?
Also, she intends to give my father the option of living in the second residence - more a right to residency as he would not be paying rent, only the utility bills etc..
Has anyone any experience of the implications of such a situation? If he was not looking after the house etc.. and she wanted him to leave, what rights would he/she have as they are technically not landland/tenant?
I appreciate this is not a very straightforward situation, so any advise/suggestions are greatly appreciated.
Regards,
Laurel
My question is, is she liable for tax/capital gains (she is 59 years of age)?
Also, she intends to give my father the option of living in the second residence - more a right to residency as he would not be paying rent, only the utility bills etc..
Has anyone any experience of the implications of such a situation? If he was not looking after the house etc.. and she wanted him to leave, what rights would he/she have as they are technically not landland/tenant?
I appreciate this is not a very straightforward situation, so any advise/suggestions are greatly appreciated.
Regards,
Laurel