Hi,
I have an apartment in my own name that I lived in before I met my spouse. We subsequently married and bought a family home together. The apartment is now rented out as we are trying to trade our way out of negative equity.
I have been think to change the title on this property from individual ownership to joint with my spouse.
Are there any tax implications on doing this for my spouse now or in the future? We are jointly assessed for income tax purposes.
Thanks in advance if you can help.
I have an apartment in my own name that I lived in before I met my spouse. We subsequently married and bought a family home together. The apartment is now rented out as we are trying to trade our way out of negative equity.
I have been think to change the title on this property from individual ownership to joint with my spouse.
Are there any tax implications on doing this for my spouse now or in the future? We are jointly assessed for income tax purposes.
Thanks in advance if you can help.