Property in sole name - if i add the Wife now ??

[Brent]

The property is in my sole name. Purchased as a Buy to let in June 2002. We are wanting to sell it fairly shortly and have come across CGT...

If i were to get our solicitors to add my wife's name to the deed/contract (at a huge cost apparently - £700) ... would we be able to use her persoanl allowance as well when working out the CGT - thereby saving quite a few thousand pounds...? Or is there a waiting period before she's entitled to use the allowance -- ie. after adding her as a j/t purchaser - would we have to wait a couple of months/years before selling the property?

I would greatly appreciate your response.

[khan1111]

unless you have a mortgage on the property you do not need a solicitor to add your wife on the deeds. D.I.Y. solicitor chargig that much is rubbig you.

[Brent]

Hiya Ikhan1111 ...

... i do have a mortgage outstanding ... someone on here suggested that a Deed Trust would suffice -- that only costs £150 max and would apparently satisfy CGT man...?? Any comments on that?