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Division of property - consideration for SDLT?
Hi my solicitor can't answer this one... my ex partner (not married) and I are dividing 2 properties. One our former main residence, the other a buy to let investment. Both have mortgages. I will take the main residence, he the buy to let. We both take over the respective mortgages. In addition I will pay him a small cash sum to cover the difference in equity between the two properties. I think the consideration value for SDLT on my property is therefore 1) his half of the outstanding mortgage +2) the small cash sum +3) my share of the equity in the other property that goes to him. It's point 3 I'm unsure of. All HMRC guidance covers is cash paid not where the consideration is in some other form. In addition we're essentially 'swapping' mortgages and equity so I don't know how that factors??????
