Daughter has recently moved in with parents PPR (value approx. £1.5m). She likely to stay indefinitely. Total estate approx. 2.4m so over RNRB taper. Gift of other land to be made shortly which with the potential gift of part of the PPR brings estate sufficiently below £2m.
Each parent gifts 1/2 of their share so they each own 1/3rd. If daughter pays 1/3rd of bills etc = no GWR, just PET (s102). Correct?
Could the gift be so daughter owns 1/2 the property and she pays 1/2 the bills. Would this still avoid GWR or pushing it too far?
If gift half the house to daughter then separate off the property so two distinct properties (to be separately registered) would this be a feasible option? I’m not as comfortable with this approach but any thoughts/experiences appreciatively received.
I am mindful of the liability to IHT and where that will fall if the proposed PETs fails.
Parker Rhodes Hickmotts