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| Tenants in Common is the way to go, according to our solicitor.
But I'm no legal brain. | |
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Generally the recommendation for unmarried people, however if the house is expensive then IHT could come into the equation on the first death.
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| That , or transferring ownership to the kids but putting a clause in the contract that the usufruct remains yours even if the property is sold . Put the value of that usufruct at one pound . At that value they can’t take it away from you. This basically renders the property unsellable until you are both dead | |
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Good luck if you have a mortgage, the full value will be potentially liable to UK IHT as it's a gift with reservation,