Added husband to my title of my IP

HI Belinda,

Normally when you add someone's name to a title you are changing the ownership structure.

In your case you (hubby) may incur stamp duty (I understand some states have allowances when a spouse is involved)

Given the property is an IP it is possible you may incur some CGT on the part sale of your property..

Do the numbers as the cost of making the change may not be worth it. On a related matter if the property is only just negative then you could potentially be looking at a situation where the property is positive and it is better it remains in your name.

Be worth speaking to a good accountant.

I’m not sure, but if you create a family trust you can get the same result but cheaper.
What the experts think about this?

cheers

Mosqui

In VIC you would probably be exempt from stamp duty (or just nominal) to transfer between spouses. What you would need to do is to arrange for your husband to purchase your share at full market value and then he could borrow to do so and claim the interest.

So you need to arrange a valuation for stamp duty (but probably exempt) and CGT purposes. Then get a conveyancer/solicitor to arrange transfer of title and reapply for loans – consider any exit fees and app fees.