Hi am new to this and was wondering if anyone could advise on a situation i have.
In 1994 i inherited a property with a sitting tenant in situ, and she is still in occupation of the property and these is no troubles with her paying the rent etc and i have kept the property in good order. She is now possibly finding it to much as it is a 3 bed bungalow. If she does move out and i was to sell would there be any taxes to pay or could this be avoided say by living in the property myself for a curtain amount of time or something else!! I am a register co owner of another property which is my residence. The property is worth around the 300K mark. Thanks
In 1994 i inherited a property with a sitting tenant in situ, and she is still in occupation of the property and these is no troubles with her paying the rent etc and i have kept the property in good order. She is now possibly finding it to much as it is a 3 bed bungalow. If she does move out and i was to sell would there be any taxes to pay or could this be avoided say by living in the property myself for a curtain amount of time or something else!! I am a register co owner of another property which is my residence. The property is worth around the 300K mark. Thanks