Giving Property to Spouse (under court consent order - Divorce)

Collapse
X
  • Filter
  • Time
  • Show
Clear All
new posts

    Giving Property to Spouse (under court consent order - Divorce)

    Hi

    We have several properties which all of my equitable interest is to be given to my spouse.

    On the jointly owned properties, this is a straightforward transfer of equity and no SDLT has been payable.

    Now, we seem to have hit a problem. One of the properties is in my sole name and there is a mortgage on the property of £180k (property value is around £360k).

    We understand from the accountant there is no CGT to pay between husband and wife, but if my spouse has to raise a mortgage, so that I am released from the property - would SDLT be payable? And just to repeat the heading above, the equity is being given to spouse as per Court Consent Order.

    Many thanks.

    #2
    This guide says sdlt is exempt for your ex's situation after divorce :

    https://www.gov.uk/guidance/stamp-du...t-transactions

    Comment


      #3
      Thank you. I had looked at some guidance pages on the gov.uk site but hadn't seen this. Yes, it certainly looks the way. Many thanks.

      Comment

      Latest Activity

      Collapse

      • Buying leasehold with alterations the Freeholder did not consent to.
        Notalawyer
        hi

        I’m looking at (quite far down the line actually!) buying the 157 yr leasehold to a grade 2 flat. It has a number of differences from its drawings on the lease (new doorway in a wall and partial wall removals. It has retrospective planning permissions for the most recent changes and...
        21-06-2018, 12:36 PM
      • Reply to Buying leasehold with alterations the Freeholder did not consent to.
        JK0
        Maybe this could be a way to get some money off the price...

        Let's say the freeholder will ask £10k for retrospective consent, if he gets to hear about the alterations. Seller might knock £5k off the price to ensure that he doesn't.
        21-06-2018, 21:46 PM
      • Car parking query
        Patti
        Our 12 flats are leasehold with each owning an equal share of freehold and an allocated car park space. Over the years, some owners have 'swapped' parking spaces (by private arrangement rather than officially). In addition, the original plans on the leases show an arrangement of spaces that is physically...
        15-06-2018, 18:51 PM
      • Reply to Car parking query
        Patti
        The original freeholder sold off the flats but decided to keep some of the parking area (which he subsequently sold on). So the leases have plans wherein he has overdrawn parking spaces onto the original architect drawings but condensing 4 spaces into 5. This was done in the mid-80s. The residents at...
        21-06-2018, 21:30 PM
      • Reply to Car parking query
        JK0
        How old is the lease though?

        I think the old BMC minis were only about 4ft 7" wide.
        21-06-2018, 21:08 PM
      • Reply to Buying leasehold with alterations the Freeholder did not consent to.
        wfd_property
        Are you buying with a mortgage (or a plan to remortgage once renovations are done)?
        21-06-2018, 20:54 PM
      • Reply to Car parking query
        wfd_property
        Get specialist advice. This has the potential to get costly, however by the sounds of it you have grounds to go back to the freeholder and explain its their mistake.

        Are you sure all properties are entitled to a space? Or are some cheaper flats just trying it on to get a free space or...
        21-06-2018, 20:43 PM
      • Freeholder won't give retrospective consent
        jasoneden
        Hi,
        I was wondering whether I could get some advice on the following subject please?

        I bought a leasehold flat eight years ago. At the time I just got a basic valuation done and no survey. When I purchased the flat, it had a set of french doors already built in the main bedroom....
        07-12-2006, 16:35 PM
      • Reply to Freeholder won't give retrospective consent
        vmart
        Hi all

        I wonder if anyone can help. Point below relevant to this thread.
        If a landlord accepts service charges (but not ground rent) following becoming aware of a breach have they waived their right to forfeiture?
        Best wishes
        21-06-2018, 12:57 PM
      • Reply to Freeholder won't give retrospective consent
        Gordon999
        I think Playnotwork has paid a fee to buy the freehold title from the Managing agent. ) post no.8 )

        I hope he has some documentation to show he has paid and there is still formality of transferring the freehold title to PNW or to his buyer .

        The freehold title is registered...
        21-06-2018, 11:59 AM
      Working...
      X