Paying off my partners mortgage

hampshire67

My father died earlier this year and left me his property which i have sold.
I plan to pay off the mortgage on our property that my husband has in his name, (as i was not employed when he took it out).
My questions is that would this be treated as a gift to my husband and will we be stung for capital gains tax. We plan to put the house in both our names when we get the deeds.

Many thanks

davidmcn

Surely it's a purchase by you of half of the property, rather than your husband coincidentally gifting you half of the house at the same time as you gift him the mortgage balance?

But in any event his principal residence is exempt from CGT, so I can't see a CGT liability being involved. You might have to pay SDLT.