Title Deed Transfer

[derdle]

Hi Clive,

I really don't know. I haven't had anyone peg-out on me and leave me property and this stuff is normally dealt with by solicitors...I'm just a humble bean counter I'm afraid. But it wouldn't surprise me...we all know what a money grabbing g*t Gordon is!

[Paulm]

You may also need to consider protecting the house from being taken into account for care home fees if your Father ever falls into that position.
Paul

Yeah that is why I am trying to sort things out. He is only 62 and fighting fit but time has a way of passing quietly, then we think oh no I should have done that years ago.

Clive, Reading through the web it looks like I am well be exempt under cat L

[CliveH]

Clive, Reading through the web it looks like I am well be exempt under cat L

nice one Paul I'm glad I mentioned it...

[simple1]

For the IT issue (inheritance tax), you can transfer the deed to another person stamp duty free as long as the gift giver lives more than 7 years...... lives upto 3 yrs after, you pay the full wack on both stamp and IT, it then drops in %age terms for year four, five, six and seven.......legal bod in my office is not an authority on this, but is fairly clued up to land registry law... but as stated, it may be completely different in Scotish Law

[CliveH]

Right Paul, this is very sad, especially for a Saturday afternoon, but I took the opportunity to pop the question to our tax advisers during a telephone conversation yesterday afternoon.

Apparently, under Para.1 of Schedule 3 to the Finance Act 2003, no Stamp Duty Land Tax (the groovy new name for it) is payable where there is no consideration payable for the transfer of the property

[Paulm]

some man Clive,

thanks for that

and Mr Brown

cheers

Paul