Conveyancing Questions

Topics	Statistics	Last Post
Changing the split of tenants in common after paying stamp duty by property_fix Started by property_fix, 09-09-2019, 11:24 AM	4 responses 45 views 0 likes	Last Post by Gordon999 15-09-2019, 21:39 PM
Is this document sufficient? by Mr. Sparkle Started by Mr. Sparkle, 15-09-2019, 09:52 AM	2 responses 25 views 0 likes	Last Post by royw 15-09-2019, 20:20 PM
Building service management as a Ltd co by BryanArm Started by BryanArm, 10-09-2019, 21:44 PM	2 responses 28 views 0 likes	Last Post by BryanArm 11-09-2019, 06:46 AM
Do fixtures and fittings feature on a TR1 form? by Notreally Started by Notreally, 09-09-2019, 20:50 PM	0 responses 19 views 0 likes	Last Post by Notreally 09-09-2019, 20:50 PM
Resolution to trespass by mystic08 Started by mystic08, 03-02-2019, 12:12 PM	33 responses 864 views 0 likes	Last Post by mystic08 04-09-2019, 15:10 PM
Deed of Variation by Jane Goodwin Started by Jane Goodwin, 03-09-2019, 14:46 PM	0 responses 16 views 0 likes	Last Post by Jane Goodwin 03-09-2019, 14:46 PM
Extension done in 1998, building notice and no completion certificate by platforminc Started by platforminc, 01-09-2019, 18:50 PM	0 responses 36 views 0 likes	Last Post by platforminc 01-09-2019, 18:50 PM
retrospective notice of assignment by eagle Started by eagle, 04-06-2019, 10:48 AM	10 responses 244 views 0 likes	Last Post by eagle 23-08-2019, 13:46 PM
Remortgaging to a BTL so much to pay! by Loftmonster Started by Loftmonster, 21-08-2019, 00:59 AM	3 responses 85 views 0 likes	Last Post by loanarranger 21-08-2019, 16:27 PM
Address wrong on Land Registry Title. A little rant. and request for empathy. by Logical.Lean Started by Logical.Lean, 06-08-2019, 18:50 PM	3 responses 89 views 0 likes	Last Post by Logical.Lean 20-08-2019, 09:50 AM

Changing the split of tenants in common after paying stamp duty

property_fix

I am in the process of remortgaging my buy to let that's currently in my sole name - with my friend for us to be tenants in common. Initially with a low split (possibly 75/25) so I know we will need to pay stamp duty. However, over the next couple years she would like to increase her share.
...
- Channel: Conveyancing Questions
09-09-2019, 11:24 AM
Reply to Changing the split of tenants in common after paying stamp duty

Gordon999

What is the current value of the whole property for remortgaging ?

If the transfer of 25% share is valued below £40K , she may not be required to pay any sdlt.

What is your capital gain on a disposal of 25% share in the property ? You can claim the capital gains personal...
- Channel: Conveyancing Questions
15-09-2019, 21:39 PM
Is this document sufficient?

Mr. Sparkle

In the past when I have needed deeds, the LR and my conveyancing solicitor have told me that they either lost the document or it was destroyed.. Thus causing additional stress while trying to sell property

Consequently, I was advised to always keep a copy of the deeds myself
...
- Channel: Conveyancing Questions
15-09-2019, 09:52 AM
Reply to Is this document sufficient?

royw

When I registered some land 3 years ago LR didn't return the deeds, if I hadn't taken a copy they would have been lost forever. This may not always have been the case as I do have deeds for some other registered properties I've bought. Definitely worth asking about it but my understanding is that LR...
- Channel: Conveyancing Questions
15-09-2019, 20:20 PM
Reply to Is this document sufficient?

Lawcruncher

Contact the solicitor and explain what has happened in the past. Tell him you want now the originals or copies of anything significant that might get lost or destroyed.
- Channel: Conveyancing Questions
15-09-2019, 17:13 PM
Building service management as a Ltd co

BryanArm

We are a block of four flats that bought the freehold last year. I own one of the flats and took the responsibility to manage the building and have dropped the service fees from 10k to 7k because of how inefficient the previous service managers were.

i was asked by the neighbouring share...
- Channel: Conveyancing Questions
10-09-2019, 21:44 PM
Reply to Building service management as a Ltd co

BryanArm

Thanks leaseholder64!...
- Channel: Conveyancing Questions
11-09-2019, 06:46 AM
Reply to Building service management as a Ltd co

leaseholder64

You need to belong to a property management redress scheme, of which there are two.

There is talk of introducing qualifications, but none are currently required.

You should ensure you have a good understanding of the RICS Service Charge Residential Management Code, Health and...
- Channel: Conveyancing Questions
10-09-2019, 21:56 PM
Reply to Changing the split of tenants in common after paying stamp duty

AndrewDod

I think you misunderstand it totally.

If previously she owned zero, and now owns 25% - that is not just a "remortgage" - it is a transfer of 25% of the capital asset - and a clear CGT event. And capital gains tax is payable on that at Market rate.

Stamp duty is a...
- Channel: Conveyancing Questions
10-09-2019, 12:43 PM
Reply to Changing the split of tenants in common after paying stamp duty

property_fix

Thank you for replying AndrewDod - No it would be a remortgage so not capital gains. If we did a split and she paid stamp duty on her 25% share but then next year wanted to increase her share to 40% by giving me a lump sum for example, would she then need to go back and pay more stamp duty because her...
- Channel: Conveyancing Questions
10-09-2019, 12:09 PM

Latest Topics