financially
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I bought a property with a friend just over a year ago (50/50). We were both FTB owner occupiers so didn't have to pay Stamp duty. Our solicitor told us that it was not legal binding to put in our contract a time limit on when one of us could not sell before, i.e. we were talking about having a 3yr limit that neither person could sell during. So while we have a standard joint ownership contract there is no time limit on it.
Now I want to move out in order to move in with my partner, so we have to decide how we are best to approach this. I want to be fair to my friend but I also cannot afford not to be financially prudent towards myself.
1. I could say I want to sell the apt, but what happens if the other person doesn't agree?
2. We could rent out a room when I leave but what is the stampduty situation in that case (1 owner occupier left)?
3. is the rent a room ceiling still €7600?
Any advice in this situation welcomed,
Financially confused :-((
Now I want to move out in order to move in with my partner, so we have to decide how we are best to approach this. I want to be fair to my friend but I also cannot afford not to be financially prudent towards myself.
1. I could say I want to sell the apt, but what happens if the other person doesn't agree?
2. We could rent out a room when I leave but what is the stampduty situation in that case (1 owner occupier left)?
3. is the rent a room ceiling still €7600?
Any advice in this situation welcomed,
Financially confused :-((