My long term partner and I recently split up. We were never married. We are both 70.
We own two assets together - the house I live in (and she used to live in) as joint tenants - plus another flat that we would rent out for income (as tenants in common with equal share).
I want to give her my share in the rented flat, so that she owns that herself outrightly.
I then want to remove her from the deeds of my property, so I will be the sole owner.
The house I live in is worth around £1million, the rented flat £600,000.
Our solicitor said we face possible capital gains tax and stamp duty implications. What are our options to mitigate these? We intend for both these properties to eventually go to our children and so want to maximise the amount they get.
Many thanks for your help.
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