Reduction in Capital Gains by transferring to spouseMake Text Bigger
My wife has a mortgaged flat solely in her name which we are looking to sell which would have a capital gain of approx £25,000 after costs. I know it has been discussed on here previously about adding a spouse (me) to the deeds on the day of sale to reduce the CGT. However, when I mentioned this to my solicitor he said “it would be difficult to add your name to the title as this would invoke the six month rule regarding purchase and transfer of titles of properties”.
The purchaser would be buying with a mortgage, so I just wanted to know if this was true and if this change to title was still possible on day of sale.
Thanks to all who contribute on here – I find your advice very useful.
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