• Gifting Property

    By Guest on 15th Aug 2019

    My partner and I are planning to buy a second property. We have a joint ownership in our current property in 50%-50% as tenants in common but we would like to put this property on my name
    by transferring my partner's share of the property on my name. The new property which we would like to buy would be owned 100% by my partner. There is no mortgage on our current property and it would be a cash buy for the second property. What is it we need to look at with this transfer? Would there be any tax implications with this transfer for any of us?

  • 1 Answers

    By Guest on 16/08/2019

    We advise you instruct a professional conveyancer to carry out the property transfer, e.g. Notary Express on 03333 122 221.

    A conveyancer would not be able to deal with tax queries though - this would be best off asked of your accountant or tax adviser. As a last resort you could ask on a tax forum but as with all forums use caution because answers on forums may be from untrained individuals and may be incorrect.

    www.notaryexpress.co.uk

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