Question:
Can I enter my 18 year old son as a third joint tenant on my investment properties? They are currently in my name and my wife's name as joint tenants.
Arthur Weller replies:
Yes you can, but in doing so you will be giving your son a portion of the property. In the absence of further documentation, he will receive a third of the property. That means that you and your wife will have disposed of this portion of the property, and quite likely, you will be subject to capital gains tax.
