transfer of ownership

[krabik]

folks

I was just wondering if it is possible to transfer ownership/deeds of a house to a girlfriend/wife of a house that you bought, so that the house will be in their name and not yours anymore

Are there taxes to pay of you do this, its not selling ti just transfering the name


cheers paddy


www.chupasart.com

 

[Vanilla]

Yes it's possible. There may be taxes depending on whether it is to a wife or a girlfriend. If to a wife no tax. If to a girlfriend there is a possibility of CAT, CGT and stamp duty. If you give more details, cost when bought, value now, whether gf or wife, do they live in it, how long have they lived in it, do they intend to remain in it, are they ftb etc then we can advise further. Is there a mortgage on it?

 

[deem]

you may have a problem transferring ownership of a property if there is a mortgage on it.