Hi
My parents are wanting to send me and my wife a sizable lump sum for house deposit. For arguments sake, £100k.
my dad in the uk was advised by his accountant to come on the property with us so if he was to pass away in the next 7 years, we would not be hit for a large inheritance tax bill and the property would just pass to us. This also safeguards my dad's money and me, should anything happen between me and my wife, god forbid.
although the Foreign Investment Review Board will allow this, but lenders won't seem to give me and my wife a mortgage with my dad on it too, even though on our own we can get a decent mortgage.
does anyone know how to do this or alternatively, if the money was gifted or loaned to me in Aus from the Uk, would we have to still pay inheritance tax should anything happen to him in next 7 years.
thanks