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Shared owndership : Stamp duty after transfer of equity

Busbyuk
Busbyuk Posts: 19 Forumite
edited 28 January 2015 at 2:08PM in Mortgages & endowments
I've gone through a divorce and part of that is myself taking over ownership of the shared ownership property.

No money is changing hands and I'm simply taking over the mortgage and will continue payments in just my name.

The shared ownership is 30% of the recent valuation of £367,000.

Due to no money changing hands, it being due to a divorce and my share coming below £125,000 I'm pretty sure I don't have to pay stamp duty but I have a nagging doubt about this.

Does the below appy for me?

https://www.gov.uk/stamp-duty-land-tax-transactions-that-dont-need-a-return

Divorce or dissolution of a civil partnership
When a couple get divorced, separate or end their civil partnership and the parties agree to split their property and land between them, or the property is split under the terms of a court order, it’s exempt from SDLT and HMRC doesn’t need to be notified.


Thanks

Andrew

Comments

  • Busbyuk
    Busbyuk Posts: 19 Forumite
    Also just to add. Should I have done the transfer of equity before the divorce finalised?

    The divorce has only just been finalised a few months ago. I'm hoping that doesn't matter as we purchased it as a married couple and now we are divorced I want it just in my name.
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