26
Sep
2016
A question about : Giving a property away...
Can I give my Mum's house to her grandaughter bypassing me, in such a way that she can be the owner but I benefit from any rental income?
Best answers:
- Not any way I can think of. The owner of a property is entitled to any income from it. You either give the house away and get no income or keep it and take the rental.
Is there a particular reason you want to gift it? - I presume you mean can your mum give her house to her grand daughter.
It cant be your mums and yours at the same time.
I get the feeling we aren't getting the full story.... - On a rethink, one vague possibility but will depend very much on circumstances, and you'd need to take some advice.
If you inherited this house within the last 2 years you could perhaps do a Deed of Variation to give yourself a life interest in the property rather than it outright.
It's not straightforward, you do need to see a solicitor and discuss it, and you may also need tax advice.
If you explain more about why you want to gift there may be other considerations.
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