I have a converted warehouse apartment in Fremantle, WA of which I still have a mortgage of 50% of its current value.I lived in the apartment for 6 years but now rent as I have adopted a very large dog. The apartment is rented at $230 per week.
My defacto son-in-law is looking to purchase an investment property and I know would be interested in purchasing the apartment.
I would prefer to sell him 50% of the apartment, thus extinguishing my mortgage, but retaining an investment asset which would pass to my daughter upon my death.
I am reading up on ‘joint tennants’ and ‘tennants in common’ but am still confused.
Can I sell 50% of my property? If so, how can this be done? – and should I do it?Yes,
This can be arranged through a solicitor.
Should you do it?????
That raises too many questions.
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