I purchased a house which my partner and I are going to move into. We currently own our house (under my name) which will be rented out. I want to be able to transfer the debt over to the investment property. The best way to do this would be to transfer to my partner however I still need to have the investment property in my name.
Is it possible to sell the home to my spouse then sell it back to me say a week or month later?
It seems like a messy process to do all this but the benefit will be having deductible debt. Ideally the best process with regards to organising the loan with the bank would be the following:
1. Partner buys house from me for $500k
2. I buy house back for $500k
3. Refinance current loan so i have the debt on my new purchase of $500k without my partner having to organise a loan.
Is this possible or am i just hopeful?
ThanksTerrywParticipant@terrywJoin Date: 2001Post Count: 16,213
Thanks for your reply Terry.
Do you know if it is possible to transfer titles between your spouse numerous times without triggering stamp duty?
Thanks.TerrywParticipant@terrywJoin Date: 2001Post Count: 16,213