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Adding person to title, liable for SDLT?
noitsnotme
Posts: 1,399 Forumite
Husband and wife have lived together in property A for over 17 years. Property A is only in husbands name.
Property B (BTL) only in wife’s name. Property C (BTL) in both names.
Mortgage on property A now paid off. Will there be any SDLT for adding wife to title?
Although the total number of properties in wife’s name would be increasing, the ‘additional’ one is her main residence and has been for years. Not sure if that makes any difference?
Property B (BTL) only in wife’s name. Property C (BTL) in both names.
Mortgage on property A now paid off. Will there be any SDLT for adding wife to title?
Although the total number of properties in wife’s name would be increasing, the ‘additional’ one is her main residence and has been for years. Not sure if that makes any difference?
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Comments
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@noitsnotme As I understand it, If the transfer is a gift between spouses and there’s no money changing hands or a mortgage on the property, SDLT does not normally apply.
Hopefully someone more knowledgeable will point you towards the guidance.I am a Mortgage Adviser - You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
PLEASE DO NOT SEND PMs asking for one-to-one-advice, or representation.
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If it's a gift (rather than wife paying a price of some sort) then there is no SDLT due - doesn't matter whether she lives there or owns other properties.3
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Yes, free of SDLT if it is a gift and there is no debt / mortgage involved. It would be different though if there is an element of "exchange" involved, for example if the Property B is transferred into joint ownership.noitsnotme said:Husband and wife have lived together in property A for over 17 years. Property A is only in husbands name.
Property B (BTL) only in wife’s name. Property C (BTL) in both names.
Mortgage on property A now paid off. Will there be any SDLT for adding wife to title?
Although the total number of properties in wife’s name would be increasing, the ‘additional’ one is her main residence and has been for years. Not sure if that makes any difference?
It would be better if rather than thinking of whose "name" a property is in, you think of it in terms of who has what shares in the property.3 -
No SDLT here for two reasons: I think even if either one applied, this would be free of SDLT.
1) no 'consideration' ie its just a gift, and wife isn't paying anything in return (eg cash, joint liability for a mortgage, giving another property in exchange, etc)
2) transfer between spouses don't attract SDLT (assuming not separating / divorced)1 -
Thank you all. That’s good news.0
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The point with transfers between spouses is that if they are "living together" the 3% surcharge does not apply to transfers between them. Standard rate SDLT can still apply if the chargeable consideration is high enough. There is an exemption for some transactions between spouses on divorce or separation, but no general exemption.saajan_12 said:No SDLT here for two reasons: I think even if either one applied, this would be free of SDLT.
1) no 'consideration' ie its just a gift, and wife isn't paying anything in return (eg cash, joint liability for a mortgage, giving another property in exchange, etc)
2) transfer between spouses don't attract SDLT (assuming not separating / divorced)0
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