Quizzes & Puzzles18 mins ago
transfer equity
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I am finalising a transfer of equity after a divorce, my ex- partner has obtained a mortgage offer, I have no solicitor, and my ex-partner and his new wife has a conveyancing solicitor.
I have been sent a transfer of equity form (TR1) which transfers my shares to him and his new wife for an agreed price just below the 40% agreed on the consent order dated june 2006 . In which we agreed to put house on the market however as the house has not sold he is now buying me out. Wil I have to pay any tax on the amount paid to me for my shares.
I have been sent a transfer of equity form (TR1) which transfers my shares to him and his new wife for an agreed price just below the 40% agreed on the consent order dated june 2006 . In which we agreed to put house on the market however as the house has not sold he is now buying me out. Wil I have to pay any tax on the amount paid to me for my shares.
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I would have thought, if the property was your main place of residence, you shouldn't have to pay Capital Gains tax on the profit. However, I could be wrong and it might be in your best interests to also find yourself a solicitor.
I would have thought, if the property was your main place of residence, you shouldn't have to pay Capital Gains tax on the profit. However, I could be wrong and it might be in your best interests to also find yourself a solicitor.