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Tax implications on gift of share

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Old 18-08-2006, 07:34 AM
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Default Tax implications on gift of share

I currently live in the family house with my mother and have always lived there, and sole ownership of the house passed to her in 2002 when my father passed away.

She has left me the property in her Will but is considering if there is any tax benefit of putting me on the house deeds in terms of inheritance tax but also in the event of the will being contested by her other 3 children who she does not wish to get a share of the house, is this a good idea?.

In addition she may move and sell the house in the next 2 years so if she did put me on the deeds would this have tax implications for me/her when if it were sold?

Thanks
Armando
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