Cash Hash » Cash Hash » Cash Advance/ Cash Advances » Buying a house from my dad for 1 tax free?

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  #11 (permalink)
: HMRC would love this one !! There are a huge amount of regulations regarding this. You both need professional advice.
UK

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  #12 (permalink)
: Your dad can sell his own house for as much or as little as he wants, that isn't a problem. But this in a minefield you are entering into here and you both need to be careful

Your dad is still relatively young and effectively he is giving his house away ?? why ?

What if he transfers the house and sometime down the line you get divorced - dad's house could be seen as an asset and sold to divide between you and a spouse. ditto with any debt / money problems you might get into.

What if 10 years down the line, your dad wants to raise some cash for his retirement through his house - he could no longer do that

You both need legal advice before before you do anything
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