Tristan Noyes highlights some of the potential difficulties in transferring a property interest to family members, from both a tax and non-tax perspective.
Putting a property in someone else's name can be sensible planning. However, it is not always straightforward, and documentation is key.
Consider the following scenario. A friend’s parents devised a genius plan: uncle needs to clear his mortgage of £200,000. Dad will buy uncle’s flat in Manchester for £200,000 to pay the bank, then let him live there rent-free. To help his two (adult) children, he decided to buy it in their
