Good afternoon.
When divorcing, couples are increasingly having to agree to court orders whereby one spouse leaves the family home but keeps an interest in it until, say, the children grow up, at which point it will be sold. A Mesher Order.
However, the norm these days appears to be to require the departing spouse to transfer the whole of his interest in the property to the remaining spouse, with a charge put on the property to enforce a debt equal to the value of his share of the property.
Do you think this debt and charge represents a 'material interest' in a property for the purposes of SDLT. Specifically, if the departing spouse wants to buy a property for himself while the charge remains in place, will he have to pay the extra 3% SDLT?
Many thanks,
BE
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