Gifting a property between sisters

Apr 06, 2004 1 Replies

Looking for some advice on what, if anything, would stop one of my elderly relatives "gift"ing her bungalow to her, slightly less elderly, sister. The elder sister is exceedingly unlikely to ever return home (currently in hospital after a stroke) and owns her own bungalow. The younger sister is also not well, but, with a following wind, would be able for the foreseeable future, to look after herself in a bungalow. I doubt inheritance tax threshholds are an issue for either/both.



Neil



There could be CGT implications if the bungalow has not always been the elder sister's PPR (Principal Private Residence).

If this is a device to circumvent paying for nursing care, it is not likely to be effective.

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