Joe Di Fede

Registered with Property118.com
Tuesday 19th April 2016


Latest Comments

Total Number of Property118 Comments: 6

Joe Di Fede

16:32 PM, 20th April 2016
About 5 years ago

Joe Di Fede

16:28 PM, 20th April 2016
About 5 years ago

My mother would like to gift her flat to my 2 brothers and I?

Reply to the comment left by "Tony Atkins" at "20/04/2016 - 14:49":

Thank you Tony, I am very grateful for the information you have provided, didn't have a clue about this topic.

I am in the process of helping my mother to renew the lease, which currently is 64 years remaining, so would probably need to complete the lease renewal for 2 reasons before gifting the property to my Brothers and I:

1: if my brothers and I take over the property we would have to wait 2 years before applying for a lease extension I believe.

2: Current value of the property will be considerably lower due to 64 years lease, so the land registry value when transferred to my brothers and I will be lower than the current market value, this will mean in the future we will be hit with a larger capital gains tax bill.

Also regards to the rental being paid to the lowest earning brother, my 2 Brothers live in Australia, so will pay the rent to the lowest earner of the 2.... Read More

Joe Di Fede

14:36 PM, 20th April 2016
About 5 years ago

My mother would like to gift her flat to my 2 brothers and I?

Thank you Steven for the contact.

Tony thank you very much for the info, that's very useful information and great to hear from someone who has been through the process.

One question springs to mind, will there be stamp duty to pay if gifting the property to her children, and is the process similar to selling a property?... Read More

Joe Di Fede

12:43 PM, 20th April 2016
About 5 years ago

My mother would like to gift her flat to my 2 brothers and I?

Reply to the comment left by "Steven Burman" at "20/04/2016 - 12:31":

Thank you Steven, that would be great if you can forward me details of the people you use.... Read More

Joe Di Fede

12:04 PM, 20th April 2016
About 5 years ago

My mother would like to gift her flat to my 2 brothers and I?

Thank you Steven and Neil, I am aware of the 7 year rule, hence I am trying to do this earlier.

My mother does not possess other savings or assets, so this would be the entire estate.... Read More