Hi all,
A declaration of trust specifies the transfer of beneficial interest from 50/50 to 100/0 from one unmarried partner to the other. The intention of this being to assign the income/capital upon sale to just one party.
The deed specifies no transfer of underlying ownership and the property remains held jointly as tenants in common. Despite a 0% interest in the future sale proceeds, the owner assigning the rights will retain some legal ownership and the property cannot be sold without both parties agreeing.
Is this an event for CGT purposes?
I am getting quite mixed opinions on the matter and would be grateful for your thoughts.
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