Hi,
My husband and I are aboutto buy my ex out of a property we bought as the family home about 5 years ago. We are wonbdering if anyone else has been througha similar transfer and can give us a broad overview of how it works and things to consider (costs to split, processes to consider). I know we will have to see our solicitor, account blah blah but would like to have at least a vague idea of how it works before we get that far.
Cheers,
LibraCharlieI presume both names are on the Title and mortgages???
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorShouldn’t be hard to do. You just need to complete the transfer and claim the stamp duty exemption. Will need to organise the finance as well.
Terryw
Discover Home Loans
North Sydney
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Both names on the title and owned 50/50. The financial side is relatively straight forward I think. What I’m thinking about is splitting the euiqty etc. We bought for 342K and now it’s worth 600K, loan is around 315K, so to buy out the ex we need to take up a mortgage to cover the exiting plus give him half the rest – oir are there other costs we need to split (as opposed to us covering)?
Cheers, LC
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