Seven year rule query - gifting property

[arty]

Hi all,
thank you for accepting me to join the forum.
I'm after a bit of advice please.
My step father would like me to move home with him and my mum, (They are not married), and wants to put the house in my name as he and my mum are getting older. He is over the threshold for inheritance tax so approximately half of his estate will be taxed. My question is, if he transferred the title to my name and passed away within the seven year rule can the executors of his will, (I'm not one of them), choose what asset to take the inheritance tax from? He only wants me to have the house, the rest of his estate is to be left to the other side of his family whom are the executors. I wouldn't want to move in only to be forced to move out in the future. We realise that he would effectively have to pay me rent to trigger the seven year rule as he'd remain living in the house.
Another alternative would be for me to sell the house i currently own and legally buy the property from them, but that would be for less than the property is worth (£140,000 instead of £250,000), to avoid the whole seven year rule thing, but is that still seen as a deprevation of assets?
Any advice would be greatly appreciated.
Kind regards

[atticus]

Yes, it may well be deprivation of assets, and challenged in relation to things like care home charges. The rules there are different to thise for Inheritance Tax.

[dslippy]

" if he transferred the title to my name and passed away within the seven year rule can the executors of his will, (I'm not one of them), choose what asset to take the inheritance tax from? "

No. The rules are laid out in the IHTA 1986 (sorry, Inheritance Taxes Act 1986). I am not sure which way around they work, but they do say one way or another. The decision will already have been made.

(Second alternative)
Yes, it would be seen as a deprivation of assets.