General UK immigration & work permits; don't post job search or family related topics!
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rafzaf4eva
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by rafzaf4eva » Mon Sep 28, 2009 10:50 pm
I have a daughter who is 9 years old i want to know how old does a child have to be to have a house on there name?. i want to transfer my house on her name.
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meats
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by meats » Mon Sep 28, 2009 10:59 pm
rafzaf4eva wrote:I have a daughter who is 9 years old i want to know how old does a child have to be to have a house on there name?. i want to transfer my house on her name.
Older than 9, a lot older than 9.
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PaperPusher
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by PaperPusher » Mon Sep 28, 2009 11:02 pm
Why would you want to do that? Is it your house or both yours and your wife's house?
There are tax implications to giving away large sums of money or property to a relative, even your child. If you are serious you need professional advice from a solicitor or similar.
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Jammydogger
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by Jammydogger » Tue Sep 29, 2009 3:10 pm
You can't transfer property to a child below 18yrs. What you can do, if seriously wish to do so is to have it put in trust for him/her.
Mind you, if its a case where you wish deny someone a share property it can get a bit more complicated.
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rafzaf4eva
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by rafzaf4eva » Tue Sep 29, 2009 10:54 pm
Jammydogger wrote:You can't transfer property to a child below 18yrs. What you can do, if seriously wish to do so is to have it put in trust for him/her.
Mind you, if its a case where you wish deny someone a share property it can get a bit more complicated.
I have been made bankcrupt 1 year ago so we had to put the house in my brother in laws name as my husbands in the same position so now i was thinking if the property can be transfered in my daughters name she is only 9..
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UKBAbble
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by UKBAbble » Wed Sep 30, 2009 12:07 am
rafzaf4eva wrote:
I have been made bankcrupt 1 year ago so we had to put the house in my brother in laws name as my husbands in the same position so now i was thinking if the property can be transfered in my daughters name she is only 9..
Sounds a bit iffy to me. The taxman will probably have rules against this. Consult a tax specialist.
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Vanadil
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by Vanadil » Wed Sep 30, 2009 9:47 am
On the plus side, if you have to wait 9 years you'll porbably be able to get it back youself by then
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Jammydogger
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by Jammydogger » Wed Sep 30, 2009 10:16 am
Your best bet would be to set up a trust company in Jersey/Guernsey which are tax free havens. Then transfer the house to trust company for your daughter. Then its effectively hers but in trust till she's 18 when she can hold the property.
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John
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by John » Wed Sep 30, 2009 10:57 am
I have a daughter who is 9 years old i want to know how old does a child have to be to have a house on there name?. i want to transfer my house on her name.
You are still living there? Have you thought this through properly? Are you intending to pay rent to the trust that is holding the property on behalf of your daughter?
Or you want to live there rent-free?
John
