sells prop to son but still gets DWP mortgage interest payments

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  • #44849
    jmosavat1
    Participant

    I have an unusual situation. Clmt sells prop to sons in 2008 but she continues to get mort interest payments from DWP until Mar 12. Once the M.I. payments cease she then enters into a tenancy. Never seen one like this before. Before getting to reg 9 I have decided that the agreement was never intended to be legally binding so falls at HBR8. However my concern also with HBR8 is that although she has transferred legal o/ship she retained beneficial o/ship since she continued to be liable for a mort. so how can she have a liability for rent in a prop she has ben. o/ship.in?

    Anyone had one like this before. Is it some kind of tax dodge from inheritance tax?

       

    #126708
    peterdelamothe
    Keymaster

    I wonder if DWP were aware of the sale. It depends what she sold …the freehold or just a lease perhaps? Or even an option on the property.

    It may be a tax issue as you say.

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