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Under current law, the maximum gift is $13,000. My parents won’t be paying anything towards buying the property and do not want any interest in it legally. What do you think? How long should adult children live at So, if both parents give that amount per year to the child and his or her spouse, it’s equal to $52,000. Buying a house for your parents to live in . Buying a house for your parents may sound unusual. There could be many reasons why you might be discussing buying your parents’ home: However, when done right, it can have many benefits. Tue 30 oct 2018 07.51 edt. If you already own a home and you’re buying a home for your parents in your name for them to live in without you, a lender will view this as an investment property or second home. Here are the five common reasons to make the purchase: You need to talk to a conveyancing solicitor. Probably the easiest option is to change the title deeds of the property so that you and your parents are tenants in co...

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