Can you sell a property to a family member?

A Your mother can sell your brother’s house to whomever she likes and for whatever price she chooses – there are no legal reasons to prevent her from selling at a heavily discounted price to a family member. There may also be an inheritance tax (IHT) bill if your mother dies within seven years of the sale.

Can my parents sell my property?

Selling or giving your home to someone else for less than market value. You are free to give any of your assets away, including your home. However it could mean that you lose your entitlement to the pension.

Can a mother sell a house to a family member?

A Your mother can sell your brother’s house to whomever she likes and for whatever price she chooses – there are no legal reasons to prevent her from selling at a heavily discounted price to a family member.

Can a family member force you to sell a property?

No and yes. No they can’t just force you to sell without a court order. Yes, they can sue you for what is known as a partition action in which the Court could order you to either buy the interests of your siblings or the property be sold with the proceeds divided.

Can a property be sold at a discount to a family member?

It has been empty since then as she lives in her own house, which she owns outright. She now wants to sell my brother’s house to a family member for an amount significantly lower than the estate agent’s valuation. Are there any legal reasons to prevent her from doing this, and what are the tax implications to herself and the family member? GW

Can a parent sell their home for less than market value?

While your parents are able to sell you their home for a lower price than market value, that discount may be subject to the estate and gift tax depending on the amount and their lifetime giving habits.

A Your mother can sell your brother’s house to whomever she likes and for whatever price she chooses – there are no legal reasons to prevent her from selling at a heavily discounted price to a family member.

No and yes. No they can’t just force you to sell without a court order. Yes, they can sue you for what is known as a partition action in which the Court could order you to either buy the interests of your siblings or the property be sold with the proceeds divided.

It has been empty since then as she lives in her own house, which she owns outright. She now wants to sell my brother’s house to a family member for an amount significantly lower than the estate agent’s valuation. Are there any legal reasons to prevent her from doing this, and what are the tax implications to herself and the family member? GW

While your parents are able to sell you their home for a lower price than market value, that discount may be subject to the estate and gift tax depending on the amount and their lifetime giving habits.