Hi, Please be tolerant as I am out of my depth here. In 1990 I bought a BTL property as joint tenants with my wife for £80,000. In 2002 the property was transferred to my sole name. It was let until 2015 when I moved in alone. However we are still very much married and a couple. The current value is about £400,000 so a CGT liability. Firstly am I right in thinking if I pre-decease my wife ( almost certain) and she inherits the house there will be no CGT liability if she immediately sells the house ?
Now this is the part where my brain starts to hurt! Would it make sense if I gifted my wife a share in the house as joint tenants? I have a mortgage of £75,000 having taken out a new mortgage (at 72!) to fund an house deposit for my daughter. Any advice on stamp duty liability appreciated also. Thanks for reading.
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