Seriously, although CGT is no longer applicable, you will find that in your time of ownership the acceptable 'tapu value' will have increased significantly. Ours when we bought was something silly like 18,000 lira and when we sold was close to the actual sale value. This means your children would be liable for purchase tax (now 4%) of a significant sum. There is no 'gifting' as we know it and you will be given the tapu value that the tax is based on - you can't pretend you sold it to them for a pound, for example.
Sons, daughters or strangers, any change of ownership is dealt with as a new sale and purchase of a property. They would in turn become liable for CGT if they sold within their first five years of ownership.
