10:41 AM, 23rd March 2016, About 6 years ago 6
My husband and I are joint owners of one rented property plus our residential home. I bought the property in 1990 and lived there for 10 years. I then moved in with my now husband and have let the property since June 2000 to various tenants, the latest of which has now been with us for 12 years. Approximately 5 years ago, my husband and I married, joined our finances together and put this property into joint names (yes, why I hear you ask – big mistake??).
I’ve been advised to transfer the property back into my name as we plan to sell it in 2017, as this will minimise the CGT liability as my husband has never lived in the property.
I have two questions, firstly, as the property is mortgage free, is it possible for us to do the transfer of equity without a solicitor/conveyancor? Secondly, will there be a SDLT liability when the ownership is put back to 100% in my name? Any other options that I’ve not mentioned but that may be available, would be greatly appreciated.
Please Log-In OR Become a member to reply to comments or subscribe to new comment notifications.
Advice and implementation provided by a practising Barrister-At-Law with £10,000,000 of Professional Indemnity InsuranceBook Now
Previous ArticleCan rent portion of Universal Credit be payable to landlord
|“Account”||means an account required to access and/or use certain areas and features of Our Site;|
|“Cookie”||means a small text file placed on your computer or device by Our Site when you visit certain parts of Our Site and/or when you use certain features of Our Site. Details of the Cookies used by Our Site are set out in section 13, below;|
|“Cookie Law”||means the relevant parts of the Privacy and Electronic Communications (EC Directive) Regulations 2003;|
|“personal data”||means any and all data that relates to an identifiable person who can be directly or indirectly identified from that data. In this case, it means personal data that you give to Us via Our Site. This definition shall, where applicable, incorporate the definitions provided in the EU Regulation 2016/679 – the General Data Protection Regulation (“GDPR”); and|
|“We/Us/Our”||Means Property118 Ltd , a limited company registered in England under company number 10295964, whose registered address is 1st Floor, Woburn House, 84 St Benedicts Street, Norwich, NR2 4AB.|
|Name of Cookie||Purpose||Strictly Necessary|
|JSESSIONID||Used only to collect performance data, with any identifiable data obfuscated||No|
|__cfduid||This cookie is strictly necessary for Cloudflare's security features and cannot be turned off.||Yes|
|Name of Cookie||First / Third Party||Provider||Purpose|
|__utma, __utmb, __utmc, __utmt, __utmz||First||Helps to understand how their visitors engage with our website|
|_fbp||First||Helps to understand how their visitors engage with our website|