Background: A husband and wife jointly own two properties. One is their main home (in Takapuna) and the other one is a holiday home in Whangaparaoa.
Pursuant to their wills, the holiday home will be passed to one of their sons. The wife died recently and the property titles will be transferred from their joint names to the husband. If the holiday home were to be passed to the son now instead of at the time when the husband dies, will the transfer trigger any tax implication?
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