50% Property Owner -

[ask73]

I bought a house with my brother 4 years ago and went 50/50. Circumstances have changed and my brother is now getting married and looks like he and his wife will be living in the house with me. This is uncomfortable and I want to buy my own place.

Can I sell the 50% to his wife before they get married and avoid stamp duty?

Do i have to pay the 200 per annum tax if I buy another property?

Can I sell 25% of the property value to my brother without any stamp duty?

Any advice on this situation?

 

[mercman]

If you are selling why are you worried about stamp duty ?? Only a purchaser will have to worry about the SD. If your brother buys your share he pays half the normal rate. Otherwise and not a blood relative it is the normal rate.

 

[Complainer]

It might be hard to agree a price in this market. Did you have any agreement about exit mechanisms from the start?