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Transfer of Equity - Pre or Post Marriage?
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Grecian123
Posts: 24 Forumite
Hi all,
I get married in June, but am also in the process of selling my house and will be transferring the equity into my fiancée’s house.
I have read on solicitors pages that transfers of equity to spouse’s properties are exempt from CGT, but not exempt for other family members/friends.
Would I be classed as being in the latter category as we aren’t married yet? Is it best just to wait until after marriage in June to start the transfer of equity process?
I get married in June, but am also in the process of selling my house and will be transferring the equity into my fiancée’s house.
I have read on solicitors pages that transfers of equity to spouse’s properties are exempt from CGT, but not exempt for other family members/friends.
Would I be classed as being in the latter category as we aren’t married yet? Is it best just to wait until after marriage in June to start the transfer of equity process?
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Comments
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CGT does not come in to it, but if you gift to some one who is not a spouse or civil partner it is PET and is subject to the 7 year rule for IHT, so maybe safest to wait.1
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you are not married until you sign the marriage register....0
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Never mind the tax issues, which suggest that post marriage is the appropriate timing, either of you could decide to run off with the milkman before the wedding date, in which case you'd be stuck owning part of a house with a person you are no longer in a relationship with. I hope it's a very unlikely scenario, but relationship breakdowns happen all the time.Make £2025 in 2025
Prolific £229.82, Octopoints £4.27, Topcashback £290.85, Tesco Clubcard challenges £60, Misc Sales £321, Airtime £10.
Total £915.94/£2025 45.2%
Make £2024 in 2024
Prolific £907.37, Chase Intt £59.97, Chase roundup int £3.55, Chase CB £122.88, Roadkill £1.30, Octopus referral reward £50, Octopoints £70.46, Topcashback £112.03, Shopmium referral £3, Iceland bonus £4, Ipsos survey £20, Misc Sales £55.44Total £1410/£2024 70%Make £2023 in 2023 Total: £2606.33/£2023 128.8%0
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