We are dealing with a matter where a parent has purchased a property in their name for their adult child to live in. This is due to the adult child not being able to obtain a mortgage. The adult child has made all payments towards the mortgage and outgoings of the property for 20 years.
The parents now wish to gift the property to their daughter and are concerned about CGT and IHT. There is of course the option to transfer into trust and claim s260 relief, however, would it also be possible in this case for the daughter to make a claim for an implied trust instead?
Thank you in advance to any help.
Daniel Woodman & Co Ltd