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Can children in the UK own property?

(3 Posts)
RomySchneider Thu 05-Jul-07 11:33:29

Was thinking to put a new property in dd's name but not sure if that's legally possible. Would save inheritance tax later. Maybe someone knows this?

Lilymaid Thu 05-Jul-07 12:12:12

I think it would have to be held in trust for her until she was 18 as she would not have legal capacity to sign the contract of sale/purchase. If you are renting it out the income might possibly then be hers (again in trust). Any lawyers out there?

BCLass Fri 27-Jul-07 20:47:29

Income would be treated as yours for tax purposes

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