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Buying house from parents...tax implications?


my parents have a second house which they need to dispose of. they have offered the property to me, at a price equal to the remainder of the mortgage so that they can clear it. what are the tax implications of this? if i was to get a mortgage for this i would have to apply for a joint mortgage with another, would this affect the tax situation for me or my parents?

If they sell you the house at a discount, they still have to pay CGT on the deemed disposal value. See an accountant.
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