Parents buying siblings flat- help me with why it’s a terrible idea

Hi there,

I have a family situation that I would love some proper advice on. Partner and friends focus on the outrage of the unfairness, but I would love some proper financial arguments to present.

My sibling is moving in with his partner so needs to sell his small centrally located flat. Flat has gone down in value and due to an influx of new builds in the area they are convinced it’s not going to sell. Parents have suggested they “buy” the flat from them and use it as a bolthole when visiting the area. They have devised a plan to avoid paying stamp duty and estate agents fees which is causing me concern. They plan to gift my sibling the remainder of their mortgage (400k) so it is paid off and then move in there. There is talk of a solicitor writing something to explain that the flat belongs to parents but remains in my siblings name. In my mind this counteracts the “gift” and will likely raise some alarms. They plan to add this property to their will, but again the ownership will remain in my siblings name. Is this a concern?

I would appreciate any input, as I am quite emotional about the situation so any and all points of view appreciated!

Thanks.