Jul 2 2024, 12:40 PM
QUOTE(gedebe @ Jun 19 2024, 03:26 PM)
my mother in law intend to transfer the name of a low cost apartment to my wife which will be my wife 2nd property, her mother claim that she is old and do not want the hassle of transferring the name when anything happen. However, she wish that the property to be distributed fairly among her 5 children.
is there any consequent of this action, like tax, entitlement to subsidy etc?
i will chip in my 2 cents here, if the purpose is to split/disty into 5 ppl, then:-is there any consequent of this action, like tax, entitlement to subsidy etc?
1. your mum-in-law should just sell the apartment (her kids/your wive can assist her in liquidating the unit while she is still around)
2. then split the money FAIRLY among HER 5 children
3. no one can then argue who got more or who is the favorite etc. Too many times a family end up fighting because of these petty matters, just not worth it.
That only works provided she herself (or anyone for that matter) is currently NOT staying in the said apartment.
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