Transferring Mortgage when couple break up

V

Valheru

Registered User
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Are there tax implications from transferring a mortgage into a single name from a joint ownership standpoint?

The house in question has risen 200k in the last 3 years but as it is the principle private residance of both parties, if one signs over the mortgage are there any taxes / charges to be aware of?

Thanks.
 
I persume you mean that the person is also transfering there interst in the house and not just the mortgage

If it was a married couple there should be no complications.

If not may PPR relief may mean no CGT but stamp duty may apply also CAT may be an issue.
 
No, not married. Bought house together, now breaking up and one of them is signing over mortgage to the other.

Does this mean he is also signing over ownership?
 
I think there was a post about this before. I'm not expert but I think if you transfer the mortgage into one name, then the person is no longer a First Time Buyer so may have to pay stamp duty.
 
Its unlikely that someone would take on sole responsibility for the mortgage without also becoming the sole owner.
 
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