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Help with capital gains!
Riccardo6
Posts: 5 Forumite
Hello all!
I'll try to keep this simple...
Parents own a property with a barn. Barn conversion started, one parent dies. Daughter aquires a small mortgage to complete and is named on the deeds. Capital gains on selling? What about the transfer of the property to her??
Any help much appreciated
I'll try to keep this simple...
Parents own a property with a barn. Barn conversion started, one parent dies. Daughter aquires a small mortgage to complete and is named on the deeds. Capital gains on selling? What about the transfer of the property to her??
Any help much appreciated
0
Comments
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not enough detail here
was the barn a separate property (with it's own deeds ) or part of a larger property
whose names are on the mortgage
whose names are on the deeds
what type of ownership; joint tenant or tenants in common
what was the value of the property when the daughter acquired an interest
what is the value of the property now
how much money was spend renovating the barn
is anyone living in the barn now0 -
Didn't I already answer this here? Why ask the same Q again the same day?0
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It was part of a larger property,
Daughter sole name on the deeds and on the mortgage
Parents had joint tenancy
Value of barn at acquisition was 400k now valued at 450-500k.
Roughly 250k labour and materials to renovate.
Daughter is moving in this month
Hope this helps0 -
PLEEEase!
Delete this thread and transfer the info to your other thread. Having 2 threads on the same issue is confusing and a waste of people's time!0
This discussion has been closed.
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