Me and my father live in house together, we own as tenants in common. In 2016 he transfered a share of the house to me as a gift . The total of the house in 2016 was worth 400k, so in effect my share was then worth 200k. There is no mortgage.
The house has now been valued at 520k, and I'm going to buy his half share out at half the price of 260k. How would stamp duty be worked out if its done after the stamp duty freeze? How much would I owe?
I will also be taking out a mortgage to help in buying his share out.
Neither of us have any other properties, and he will be moving out to buy another place.
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