06 July 2006
My client's mother gifted to my client her main residence approximately nine years ago. Mother continued to reside there exactly as before the gift. Mother has recently died and my client is proposing to sell the property. With the rise in property prices in recent years, on the face of it a subsequent capital gain will be made. Do readers think that relief could be deducted under TCGA 1992, s 225 from the gain on the basis that my client was holding the house as a constructive trust for her mother?
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