Gift of Property
To gift property you will need a Gift Deed, this allows the transfer of ownership without the exchange of money. Gift of Property is the transfer of property from one person to another (donor to grantor).
A gift can either be;
- Lifetime gift (gift made and delivered in the donor’s lifetime)
- Deathbed gift (future gift made in the expectation of the donor’s death)
Gifts above a certain value are taxable and the donor is generally responsible for paying the gift tax. Unsure which type of gift you should leave/ whether you should leave a gift at all/ want to leave a gift? Call Beacon Wealth Legal today for more information.
Contact your specialist for advice.
Tel: 01480 219699