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Divorce and property settlement
Comments
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Yes we would transfer beforehand to but I don’t see why he should be better off by £20k by transferring the property to me than if we sold it and he would have to pay CGT. I was originally keen to sell but now think that this could be a future roof over our children’s heads if I keep hold of it. We’ve owned it for over 20 years. Paying him the additional £20k means unlikely I can afford to keep it.GDB2222 said:Transfer between husband and wife are tax free. I assume that this would all be done before the decree.0 -
Surely if you never sell it, there is no CGT to pay.0
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Could you offer to split the difference, to meet in the middle.sbarns said:
Yes we would transfer beforehand to but I don’t see why he should be better off by £20k by transferring the property to me than if we sold it and he would have to pay CGT. I was originally keen to sell but now think that this could be a future roof over our children’s heads if I keep hold of it. We’ve owned it for over 20 years. Paying him the additional £20k means unlikely I can afford to keep it.GDB2222 said:Transfer between husband and wife are tax free. I assume that this would all be done before the decree.
I see both sides. You get to buy him out and retain a good asset that has clearly made money, and will continue to make money? Without his investment you may not own the home.?
To make it simpler I'd just sell and cut ties tbh.
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totally agree just sell it, this is the top of the market. Get another house0
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I’ve already suggested that you should keep back say 75% of the CGT figure. That seems a fair offer to me.sbarns said:
Yes we would transfer beforehand to but I don’t see why he should be better off by £20k by transferring the property to me than if we sold it and he would have to pay CGT. I was originally keen to sell but now think that this could be a future roof over our children’s heads if I keep hold of it. We’ve owned it for over 20 years. Paying him the additional £20k means unlikely I can afford to keep it.GDB2222 said:Transfer between husband and wife are tax free. I assume that this would all be done before the decree.No reliance should be placed on the above! Absolutely none, do you hear?0
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