My client has lived in her house since purchase and the mortgage paid off indirect by her via her daughter. Deeds are in her daughter's name since purchase. Daughter moved out after 10 years. No rent has been paid to her daughter therefore I believe the property will be deemed as a GWRB and brought back into my client's estate for IHT purposes upon her death. I believe that RNRB will still be permitted as the daughter will have essentially inherited the property?
The issue which has arisen is that my client wishes for the deeds to be transferred into her other daughter's name who has also lived in the property since purchase and continues to do so. I am questioning whether such a transfer will trigger CGT for the daughter who currently has her name on the deeds?
Alternatively, if the property is tranferred to my client might this avoid CGT altogether if she lives in it until her death and passes it onto her children?