Hope someone can advise me
My partner's grandfather died recently. The property has been inherited by him and his 2 aunts (his own mother is deceased and he is an only child)
Both of his aunts own their own homes outright and are open to the idea of him buying them out. Is this as simple as using his 1/3 as a deposit and applying for a mortgage for the amount of the remaining 2/3?
How about inheritance tax? thw estate is worth less than 325k but what happens if he buys them out? CGT? How long would this property have to be his main home before having to pay capital gains tax?
This whole situation is very confusing. Partner has an emotional attachment to the home as he was raised there by his grandparents, aunts never lived in this property and are keen to get it over with. Not sure if moving back in will be the right choice so wanting to be sure on the CGT before he makes the decision.