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Buying a home as a part of a sepperation
Username100
Posts: 1 Newbie
I would like some advise on buying a property for my X partner as part of our amicable separation.
I can not make head nor tail of the legal situation regarding the First time buyer scheme..
I have owned my own home and some rental properties for many years, my partner has lived with me for 7-8 years now but sadly we are going to separate, She is not on my title deeds and has never owned her own home and has never owned one with anyone else.. Is it possible for me to gift her the money for the property and would she still be able to claim for zero stamp duty as the property is £275k saving circa £5-7.5k...
Any advise would be gratefully received...
I can not make head nor tail of the legal situation regarding the First time buyer scheme..
I have owned my own home and some rental properties for many years, my partner has lived with me for 7-8 years now but sadly we are going to separate, She is not on my title deeds and has never owned her own home and has never owned one with anyone else.. Is it possible for me to gift her the money for the property and would she still be able to claim for zero stamp duty as the property is £275k saving circa £5-7.5k...
Any advise would be gratefully received...
0
Comments
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https://www.moneysavingexpert.com/news/mortgages/2017/11/autumn-budget-2017-stamp-duty
Who counts as a first-time buyer?
Anyone who hasn't owned a property before anywhere in the world, whether bought or inherited.
You can give your friend the money - you should record the gift with your personal papers for IHT purposes.
Your friend's conveyancing solicitor will wish to establish the source of the gift.0 -
So long as the new property is bought by your ex partner so that she alone owns it with you having no share, then from what you say she should be entitled to first time buyers' relief from stamp duty land tax.0
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