Small house gifting to 3 children
Hello I would welcome your advice. I plan to gift a small house to my 3 children. Three questions if I may :-
1) would I be correct saying as itís a gift there would be no stamp duty to pay.
2) Two of my children already own their own homes. However my youngest is still at university. Would this gift penalise him in the future when he comes to buy his own house ?
3) If this is the case what would you do ? ( leave him out for time being until he buys his own and then let the other kids gift him his share ?)
The market value of the house is only around £65,000- £70,000.
Thank you all for your help
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