‘Shock and disbelief’: The pitfalls of buying property with your children

Key Takeaways

• The house was bought as 'tenants in common' with the daughter owning two-thirds
• Buying property with children can have pitfalls
• Parents should think carefully before entering into real estate transactions with their children
• Understanding ownership structures, such as 'tenants in common', is crucial
• Repaid loans can still have implications for property ownership
• Transferring ownership can be a complex process