Shelter’s Income and expenditure figures highlighted13:57 PM, 4th February 2019
About 2 weeks ago 35
I currently have a small property portfolio with two investment properties in West London as well as a residential home. My overall strategy is to build more aggressively the number of property’s I own to create a steady income and reduce the need to work in my current career.
I have a wife and two young sons (4 & 2). My wife’s Aunt has gone through a cancer scare (she is fine) so has decided to get some affairs in order, including an early inheritance gift to my sons. At the same time my wife’s sister has withdrawn some equity from her flat and would like to jointly invest in a property with me that initially she would live in but subsequently we would rent out. We would like to use the inheritance money to jointly invest in a property with my wifes sister.
Apologies if any of this is irrelevant but it feels like there are a number of legal issues that could arise including inheritance tax and also how to structure deals with joint owenrship with unrelated partners.
My question is simply, does anyone have any experience with a similar situation? Obviously I will need some legal advice, but do I need a specialist lawyer? Anything to be aware of from a mortgage perspective?
Thanks for any help
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