Stamp Duty and Property Adjustment Order
Posted: Thu Nov 15, 2018 12:52 pm
Hi All
I have a question with regards to Property Adjustment Order in order to avoid the higher SDLT. I am divorced and my ex-wife lives with my children in the mortgaged property. I cannot remove my title from the property because my ex-wife cannot afford the mortgage. I am trying to buy another property on my name however I found that I need a property adjustment order if I need to avoid the higher stamp duty.
I reached out to a family lawyer and was told that I will need a consent order and the property adjustment will be part of the content order. I am a bit worried because I dont want to have an order from the judge and find out that the document is not correct. Can anyone let me know if its the consent order that will help me avoid the higher rate SDLT.
And secondary my conveyancer for the new house has advised that if at the time of completion my name is on another title I will have to pay the higher rate SDLT. He has advised that even if I have the consent order I will still need to remove my name from the title. Is this true?
Thanks for your help.
Nash
I have a question with regards to Property Adjustment Order in order to avoid the higher SDLT. I am divorced and my ex-wife lives with my children in the mortgaged property. I cannot remove my title from the property because my ex-wife cannot afford the mortgage. I am trying to buy another property on my name however I found that I need a property adjustment order if I need to avoid the higher stamp duty.
I reached out to a family lawyer and was told that I will need a consent order and the property adjustment will be part of the content order. I am a bit worried because I dont want to have an order from the judge and find out that the document is not correct. Can anyone let me know if its the consent order that will help me avoid the higher rate SDLT.
And secondary my conveyancer for the new house has advised that if at the time of completion my name is on another title I will have to pay the higher rate SDLT. He has advised that even if I have the consent order I will still need to remove my name from the title. Is this true?
Thanks for your help.
Nash