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Transfer from Jointly Owned to Sole Ownership
Transfer from Jointly Owned to Sole Ownership
Posted
Mon, 06 Jan 2025 11:54:43 GMT
by
Chris Riches
My wife and I jointly own a rental property and wish to transfer it to her sole ownership. We are completing the forms ourselves as there is no mortgage and it should be straightforward.
On the AP-1, box 4, do we use the full value of the property (£260k), or just the half that is being transferred from me to her (£130k)?
On the AP-1 and TR-1, is the transferor both of us (since we jointly own it), or just me (since I am transferring my half to her)?
Thanks
Posted
Mon, 06 Jan 2025 12:06:32 GMT
by
Adam Hookway
Chris - complete panel 4 to refer to the full current market value but pay a scale 2 fee on half that amount
You are both Transferors as you can only transfer the whole of the legal ownership so two Transferors and just one Transferee
Posted
Mon, 06 Jan 2025 12:11:42 GMT
by
Chris Riches
Thank you for the prompt and helpful response.
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