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Legal matters

Gifting house to cousin

6 replies

Justpassingtime1 · 11/11/2020 07:50

I want to give him my house and he wishes to give me his smaller one.
How do we do that?

OP posts:

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AlwaysCheddar · 11/11/2020 09:47

Why?

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Collaborate · 11/11/2020 12:36

@AlwaysCheddar

Why?

Why on earth is that relevant?

OP - you instruct a conveyancing solicitor. If there are mortgages on either property you need to sort that out first.

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AlwaysCheddar · 11/11/2020 13:23

Op could be 90 and the cousin 50 and could be seen as trying to get out of selling house to pay for care home fees. Different story if they are both 20.

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Rainbowshine · 11/11/2020 13:27

You’ll need both legal and tax advice, especially if it is linked to some other significant change like divorce, etc. We need more details really @Justpassingtime1

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Bells3032 · 11/11/2020 13:28

Speak to a conyancing solicitor. it should be fairly straight forward as sell. If you have a mortgage you will need to discuss about porting your mortgage or paying it off.

Be aeware if you die within 7 they will have to pay inheritance tax on it