Gift with Reservation re: house but paying market rent

Posted by nekillim PM | on Thu, 17/02/2011 - 16:55 826 3 comments | report

I apologise if this has been raised before, but I cannot seem to find a definitive answer!

Parent gives house to children as a gift.

Parent pays full market rent for 7 years.

Does this now become a PET, or does the parent have to continue paying market rent?

Thank you

Comments

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Phil Rees | Thu, 17/02/2011 - 17:00

nekillim | Thu, 17/02/2011 - 17:06

Phil Rees | Fri, 18/02/2011 - 10:38