Mr B died August 2018. The assets of his estate comprise investments worth £260k. He did not own any property at the date of his death. I am instructed by the Executor (the son of Mr B). The whole family (Mr B, Mrs B and their son and daughter) owned a property equally as tenants in common. In 2005, Mr and Mrs B transferred their shares in the property to the son and daughter (value of the property at the time was £350k so Mr B’s share was £87.5k. No money exchanged hands). The daughter then transferred her share of the property to the son and the son took out a mortgage on the property to purchase a second property.Mr and Mrs B lived in the second property rent free until their respective deaths. Mrs B died in 2008. Do forum members believe that this series of transactions would be caught by POAT or GWR? My initial thought was no. Any help would be most appreciated.
Natalie Tonkin
Bailhache Solicitors