Changing property from 1 name to 2 names.

Changing property from 1 name to 2 names.

Postby buildhigh2000 on Tue Sep 28, 2010 4:13 pm

Hello,

I've asked a similar question before but our situation has changed slightly!

I'm buying a house with my fiancee for 150k cash (no mortgage). She is a first time buyer, I am not because I own a small share in my parent's house.

I understand that if my fiancee buys the house alone and we put it in her name, we won't have to pay stamp duty.

What I am not sure of is that if we later change the ownership of the property, so that it is half in my name, would we then have to pay stamp duty? Is there a minimum amount of time we would have to wait before we could do this without paying stamp duty?

Thanks very much!
buildhigh2000
 
Posts: 9
Joined: Wed Aug 06, 2008 4:02 pm

Re: Changing property from 1 name to 2 names.

Postby section 44 on Tue Sep 28, 2010 5:20 pm

If you planned to, and later did, transfer the property into joint names then SDLT would be payable by virtue of an anti-avoidance provision.
section 44
 
Posts: 2059
Joined: Thu Oct 30, 2008 12:47 pm


Return to Stamp Duty

Dorifor Internet Marketing Dorifor Tax Group - our portfolio of tax sites:

UK's largest independent tax portal All the tax books on one site global tax seminars, conferences and other events Global tax jobs portal List of UK recruitment agencies and employers

cron