My DF has offered us some money so we can buy a larger house (DC would have a room each, near better schools/nicer part of town). It's the money he'd put aside for the DC's inheritance from him, so he wants it ring-fenced for them whenever the house is then sold. I'm sure this is possible, but am just wondering how it'd work. Especially as I'd rather not have to sell once they hit 21 or thereabouts (but would like to be able to give them this money so they had a deposit for a house), so would save to buy them out. I was happy to look at it as an interest-free loan and pay him back, but apparently that has tax implications or something and he'd rather not do it that way.
Has anyone done anything like this?
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How would this work? Gift of money which will eventually be for DC, to put into bigger family home now...
5 replies
bronya · 03/06/2014 09:23
OP posts:
Iseenyou ·
03/06/2014 21:33
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