16:00 PM, 23rd December 2021, About 2 years ago 6
Hello, My wife and I hold a rental property with 50:50 share, due to changes in our employment situation I want to transfer 90% of the income from the property to my wife. I understand I could achieve this by submitting a Form 17 and deed – which might cost me £200, worth of fees. Or I could actually change the physical holding in the property to 90:10 – with solicitor costs of about £300.
Note: there would be no stamp duty consideration are there is a negligible mortgage on the property.
So, given that the fee’s involved are not that different, is there an advantage of one method over the other?
Thanks in advance.
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