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Hi all,
I am in the process of purchasing my mums partners house for £140,00 - the house is worth around £220,000.
He is purchasing a smaller property close bye so that I can care for them in future years.
He has no children, only a sibling and nephews/nieces.
He has a large estate, most of which will go to them.
He wants to make the lifetime gift of the remainder of the house to me and that will be my total inheritance from him.
We both have separate conveyancing solicitors and have notified them that we would like the gift recorded legally.
The gift is within his personal allowance of £325,000 IHT so i shouldn't be liable to pay iht on the gift.
He doesn't own another property, he will purchase another house once the sale is final.
My question is: what can be done now to protect me from any future challenges being made on the gift?
He is 76 but very healthy and of full sound mind - should we have this proved and if so, how?
should he go to a solicitor independently and write a letter explaining why he's made the gift?
I feel confident that his family will contest as they don't bother with him so they are unaware of the gift.
Is there anything legally that can be done now to prove there was no undue influence? He is angry at the thought of anyone challenging his wishes as he's feeling defiant that it's his right to do whatever he likes with his money. Whilst I agree, I would like to ensure everything is done properly and above board.
Any help at all would be greatly appreciated.
Many thanks
I am in the process of purchasing my mums partners house for £140,00 - the house is worth around £220,000.
He is purchasing a smaller property close bye so that I can care for them in future years.
He has no children, only a sibling and nephews/nieces.
He has a large estate, most of which will go to them.
He wants to make the lifetime gift of the remainder of the house to me and that will be my total inheritance from him.
We both have separate conveyancing solicitors and have notified them that we would like the gift recorded legally.
The gift is within his personal allowance of £325,000 IHT so i shouldn't be liable to pay iht on the gift.
He doesn't own another property, he will purchase another house once the sale is final.
My question is: what can be done now to protect me from any future challenges being made on the gift?
He is 76 but very healthy and of full sound mind - should we have this proved and if so, how?
should he go to a solicitor independently and write a letter explaining why he's made the gift?
I feel confident that his family will contest as they don't bother with him so they are unaware of the gift.
Is there anything legally that can be done now to prove there was no undue influence? He is angry at the thought of anyone challenging his wishes as he's feeling defiant that it's his right to do whatever he likes with his money. Whilst I agree, I would like to ensure everything is done properly and above board.
Any help at all would be greatly appreciated.
Many thanks
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