Sharing a property with an elderly relative may seem to be the perfect answer to rising property prices, and concerns over care for the elderly, but people contemplating such an arrangement should be aware of the legal and practical problems which may arise. There are a number of different ways to share property, but an equal number of pitfalls, whether legal, financial or relating to tax.
We look at the key areas to consider for the purchaser in a land transaction, whether this is buying a house or creating a lease or assigning a lease, a purchaser is required to pay Stamp Duty Land Tax (SDLT).