My elderly father has passed away and my mum is on about taking his name off the deeds of the house and adding my name to them.
the thing is, I have got the same name as my dad so do we need to do this or could we leave them as they are and claim its my name when the time arises?
Many thanks
noooo..the purchase dates will not make sense....the deeds will have dad's addy and he will have signed papers.....you will have to get mum to grant a deed of gift giving you a half share pro indiviso share ...
there are some rather obvious tax implications to this course of action
and I think you should take professional advice
[ if Mum gives Frankie a gift and they find that there are tax charges then Frankie giving back the gift to mum, doesnt cancel out the tax charge but may double it ]
Are you sure that's what you need to do? What is it you need to achieve? She could just put in her will that she is leave the house to you. As PP says there could be IHT implications.