My living arrangements are a bit complicated so I'm just trying to find out more information.
We live in House A which is owned 50/50 between DH and his brother. His brother lives in House B which is also owned 50/50 between him and DH. Their father used to own 50% of House B but gifted his share to DH and BIL in the past couple of years.
The long term plan was for DH and BIL to effectively 'swap' the 50% equity in the 2 houses so that DH owns all of House A and BIL owns all of House B. My PIL have been reluctant to do this as they say that if House A and House B are of different values then there will be tax payable on the swap. Is this so, as I didn't think CGT or IT were payable on main residences. (House A was inherited by DH and BIL years ago). PIL are trying to avoid this by finding a surveyor who will effectively value both houses the same so the swaps are of equal value.
Please could someone help?
Please or to access all these features
Please
or
to access all these features
Mumsnet has not checked the qualifications of anyone posting here. If you have any legal concerns we suggest you consult a solicitor.
Legal matters
Complicated house situation, could anyone advise?
3 replies
MyGastIsFlabbered · 27/02/2015 09:36
OP posts:
Please create an account
To comment on this thread you need to create a Mumsnet account.