Stamp duty advice

[Jda]

Hello,

I separated from my ex-wife 2 years ago and moved out of the family home approx 20 months ago, I was then taken off the mortgage shortly after, this was agreed for by the bank and documents were signed to confirm I have been released from the mortgage, ex-wife now has mortgage in her name only, I have confirmation of this in writing.

My share of the property is classed as zero as an agreement between myself and ex wife.

When we purchased the property it was through a shared ownership scheme, the deed to the house still shows my name, my ex wife name and the two companies involved in the shared owner ship scheme.

I am looking to purchase a new house but I am worried about paying additional stamp duty as on title deed still , I am in the process of getting it removed asap.

Please can you advise on this type of situation - I have am in the view that I do not own any share of old house with ex wife so under £40,000 mark so would not need to pay additional stamp duty.

Thanks for any help.

Regards,
Jamie Hill

[maths]

The issue is whether you still own a beneficial interest in the property or not; being only on the legal title is not per se a problem.

If you do not have such an interest then the 3% is inapplicable to any new purchase.

If you do have such an interest then the 3% will apply on your new purchase but may then be reclaimable as and when you dispose of your interest in the former marital property (assuming of course new purchase is to be your new home).

[Jda]

Thanks for the reply. My ex wife and I had an agreement that she would have the house, it was just a verbal agreement and then arranged the divorce which went through in Jan.

What would I need to prove that my share is zero? Would a signed letter between us be sufficient if and when required?

[maths]

Would a signed letter between us be sufficient if and when required?

No.

The solicitor acting for your wife would have updated the records at Land Registry which should confirm you no longer hold any interest in the property.

[Jda]

ok, thank. I looked on Land reigstry and it shows my name on title - how can I check to see if it states that I have no share / interest ?

[maths]

Were solicitors involved in acting for you and wife with respect to the divorce or was it a DIY divorce?

If it was agreed that you would be transferring your interest in the home to wife this would have been contained in the divorce papers following which the title and beneficial ownership would then have been sorted out.

[Jda]

It was just a DIY divorce that we did. Could I get a solicitor to draw an agreement up now confirming that I give up any share of the house and then file to change title deed to tenancy in commmon?

[maths]

I think it would be worth while consulting with a solicitor as it all seems a bit strange and on the face of it the Land Registry records do not reflect what you have said was agreed between the two of you.

Just for the record, legal title is held as joint tenants whilst the beneficial ownership can be held as joint tenants or tenants in common.

[someone]

I must say that I'm surprised that you managed to be released from the mortgage while still on the title deed.