• Taking Ownership Of Property Bought Together With An Ex Partner And Stamp Duty Liability

    By Guest on 24th Apr 2018

    I bought a property with my ex on the Help to Buy (HTB) scheme and we own it as tenants in common with unequal shares: myself 95% and my ex 5%. There is an existing mortgage and the HTB loan. We also have a Declaration of Trust in place. My ex would like to buy her own property in the next year or so and we've agreed that I would take over ownership of the property we bought together, including the outstanding mortgage and the HTB loan. Would I need to pay any Stamp Duty on the transfer of her share of the property and her 5% proportion of the outstanding mortgage? It should be noted that no money would exchange hands and my ex's 5% share of the property would not exceed the current Stamp Duty threshold of £125k. We haven't started paying off our HTB loan yet.

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