House sale funds

[bonusmum21]

Hi all.
Mother due to have house sale funds of approx 60-70k. She wants this directly transferred to my savings account as she has been living with me with potential of extending house for living arrangement. Is this allowed? If so, are there tax implications etc? Thanks

I think it would make more sense for her to keep it in her name initially and then pay for your building works direct.

I think the Solicitors will want the money to go into the account of the person who owned the house.
There is nothing stopping your Mum then transferring it to you, however I agree that her paying for the building work may be a better way forward.

There could be inheritance tax due if she was unfortunately to pass away with 7 years (I think) of giving you the money. Best she keeps it and uses it to pay directly for the building work