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Posted Wed, 26 Jun 2024 06:44:17 GMT by J Rudkin
Hi,
I wonder if you can help us please. My friend and I are buying a freehold property which we intend to turn into a house for each of us. (It is an easy equal split since one half was added decades ago and the split would create two equal sized houses). We are proposing to split the garden and driveway equally too and we are dividing the cost of the purchase of whole into two. 
There will be no mortgage for the purchase of the freehold - we are wondering if there is any advantage or disadvantage to splitting the title before completion or after we own it jointly? From what we have read, we think that there should not be a further Stamp Duty Land Tax charge if we split it after completion, but would like to clarify this please and just check that there is no reason why we should do this before completion please? 
Any advice most welcome please - to summarise, if we waited until after completion we would own the freehold jointly or as tenants in common in equal shares and when we split the title we would each own a half of the original whole so no gain or loss from one to the other. 
Many thanks. 
Posted Wed, 26 Jun 2024 07:11:43 GMT by Nimish Patel
Hi J Rudkin - From registration perspective there is no benefit or disadvantage, apart from you paying registration fees twice.  The issues with Stamp Duty Land Tax are not something that we can comment as that is something for HMRC.  You should check with them.  

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