I considered purchasing it as joint tenants in common but that triggers stamp duty on the entire purchase as I’m a non UK resident. I thought they may be able to amend their will to represent the loan / share I have in the house upon their death. I don’t want for them to incur any taxes, I’m purely trying to enhance their living arrangements. I have one sister. I have as of now been unable to find a solicitor to help me think it through from a legal / tax / inheritance perspective. The amount I want to loan is in the 6 figures. Thank you for any thoughts you may have.

  • Are you worried about your own taxes? You'll owe the IRS taxes on the imputed interest the loan generates even if you don't collect anything thebalance.com/… Assuming you both sign a loan agreement, your loan would just be another claim on your parent's estate that would need to be satisfied before an inheritance is distributed so I'm not sure why your parents would need to update their will to pay you back. I'm not sure why a solicitor wouldn't be happy to have a conversation though to put everyone at ease. – Justin Cave Apr 6 at 15:35
  • Thank you I’m not sure why either, I think the international angle is throwing the 2 I spoke to off course. This is very helpful. Given the tax paid on interest charges over the years, and the number of years being undetermined, it might be easier to go the joint tenants in common process and just pay the stamp duty upfront. That way my share of the house and participation in appreciation / depreciation may be more cut and dried when it comes to inheritance. So much to consider. – Helen C Apr 6 at 16:36
  • A solicitor can advide you on legal things. You'd need a financial adviser for advice on the tax implications. – Simon B Apr 6 at 19:37

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