Anyone put 25% of their holiday home in their child's name?

[bobo]

...The child being 10 yo.

The funds would have to come from their account but that's hard to do considering you need to be 11 to have a child's account. seems problematic. any solutions gratefully received.

[Carbon Sasquatch]

Funds ? aren't you just gifting it ? Or is there a mortgage ?

[BoRED S2upid]

bobo said:

...The child being 10 yo.

The funds would have to come from their account but that's hard to do considering you need to be 11 to have a child's account. seems problematic. any solutions gratefully received.

They can have accounts before the age of 11 just in your name.

[Mr Dendrite]

Worth remembering that if you do this then they can’t take advantage of any future first time buyer incentives such as lifetime ISA etc.

[NickCQ]

Interested to understand what the motivation for this is.
3% SDLT surcharge? IHT? Care home costs? Tax on short term letting income? Playground bragging rights?

[Welshbeef]

Capital gains issue too.

[anonymous-user]

bobo said:

...The child being 10 yo.

The funds would have to come from their account but that's hard to do considering you need to be 11 to have a child's account. seems problematic. any solutions gratefully received.

You have to be 18 to own property I believe.

[SunsetZed]

Rufus Stone said:

You have to be 18 to own property I believe.

This

[FWIW]

Welshbeef said:

https://info.legalzoom.com/article/what-happens-if...

Useful US link is useful.

[BoRED S2upid]

SunsetZed said:

Rufus Stone said:

You have to be 18 to own property I believe.

This

Can’t it be put in trust? Surely the wealthy do this for their kids.

[andy43]

A bare trust can be set up - managed by the trustees (you) until the child/beneficiary is old enough to take control.