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Scotland, house swap, no money changing hands.
retiredin2011
Posts: 393 Forumite
Two families live in two houses, one a two bedroom bungalow with a family of 2 adults and 3 children, the other a 4 bed semi with a couple in their 60's.
Both houses are mortgage free.
The couple want to downsize and the family want to upsize.
Could they just swap houses, obviously employing a solicitor, without any money being paid, other than for the solicitor?
Both houses are mortgage free.
The couple want to downsize and the family want to upsize.
Could they just swap houses, obviously employing a solicitor, without any money being paid, other than for the solicitor?
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Comments
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Of course they can.The truth may be out there, but the lies are inside your head. Terry Pratchett
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Yep, and no further repercussions as long as they're not family, never become dependent on public funds or need social-care in their dotage.0
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BitterAndTwisted wrote: »Yep, and no further repercussions as long as they're not family, never become dependent on public funds or need social-care in their dotage.
The solicitor should be able to sort out any risk of those problems.The truth may be out there, but the lies are inside your head. Terry Pratchett
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A solicitor might choose to warn either of the parties of the possible consequences of their actions but may not be able to "sort out" any of them.0
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Just becuase money isnt changing hands, both parties will be liable to pay stamp duty on the full market value of the property they take.
see the definition of chargable consideration
http://www.hmrc.gov.uk/sdlt/calculate/value.htm#60 -
BitterAndTwisted wrote: »A solicitor might choose to warn either of the parties of the possible consequences of their actions but may not be able to "sort out" any of them.
Then again he may well be able to. Stop making things up.The truth may be out there, but the lies are inside your head. Terry Pratchett
http.thisisnotalink.cöm0
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