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I am executor for my father’s estate. A small amount of savings and a house which is below IHT threshold.
My fathers will divides the property equally between three siblings including myself.
I would like to buy both my siblings share in property and live there as my sole residence.
we are all in agreement over this. My question is how to transfer the property to my name and pay them their shares.
do I simply put my name on the land registry transfer document then pay them. I feel this may be seen as a gift rather than them inheriting and therefore if I were to die within seven years there would be tax to pay on the money I paid them.
grateful for advice. Thank you.
My fathers will divides the property equally between three siblings including myself.
I would like to buy both my siblings share in property and live there as my sole residence.
we are all in agreement over this. My question is how to transfer the property to my name and pay them their shares.
do I simply put my name on the land registry transfer document then pay them. I feel this may be seen as a gift rather than them inheriting and therefore if I were to die within seven years there would be tax to pay on the money I paid them.
grateful for advice. Thank you.
