POAT or Gift With Reservation (GWR)
Good Afternoon Hive,
We are looking at a case with the following circumstances and wondered if anyone could tell me whether POAT or GWR applies.
Mother and Father, Father passed away and the Mother was advised to sell the family home, give the money to her Daughter who then used that money to purchase a home in which they both lived.
The Mother passed away four years after the Gift was made and the amount in question is £700,000.
The Mother never paid any rent or anything whilst residing in the family home and as far as I am aware, no other gifts were made.
What we are trying to establish is if GWR or POAT applies, we are of the mind that GWR applies, but want to seek the Hive's assistance.
Thank you in advance.