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A mother and father appear to have transferred a block of eight flats into the joint names of themselves and their two adult children, but pay a rent in respect of one of the flats that they occupy
We have recently acquired a new client. The family involved own a property which has been converted into eight separate apartments. The property was originally acquired by the mother and father in 1985.
A Land Registry document has now been produced confirming that in April 2005 the mother and father apparently altered the ownership of the property so that it is now owned under what is a tenancy in common by the mother father and each of the two adult children ostensibly in equal shares.
Leaving aside the capital gains tax position of this change in ownership in 2005 it would now appear that since that date the mother and father continue to occupy one...
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
