All Topics / Help Needed! / Selling under co ownership to other partner

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  • Profile photo of ediot123ediot123
    Participant
    @ediot123
    Join Date: 2007
    Post Count: 54

    Hi guys,

    Just interested to know how to calculate a “buy out” amount if planning to sell my share of an investment property to the other party if ownership is 50/50 and what things to consider and look out for regarding legal, cgt etc.

    Any info would be appreciated.

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,190

    Best to get a valuation to avoid arguments about amount.

    You need to consider deductibility of interest for the purchaser’s loan on the new share and you also need to consider the stamp duty and CGT issues. Don’t forget estate planning such as wills, loss of capacity etc.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://structuring.com.au/
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Aust wide) http://propertytaxbook.com.au/

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