Property Exchange

G

GoldBull

Guest
A question for the legal and tax experts out there..
Have an investment property worth 250K and would like to use it as part payment for a property worth 700K. There is 100K mortgage on the investment property at current valuations.(Current valuations factor in another 20% DROP IN PRICES).
I am wondering what the tax implications might be on such a transaction. Would we have to officially declare a selling price of our property or could deeds be transferred and thus avoid cap gains tax.
Are there any legal considerations
Has anyone done this before
any advice be great thx
 
The tax implications will be exactly the same as if you were selling your property outright and buying the other property outright. There is no difference. Same for other party.
 
You must log in or register to reply here.
Back
Top