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morgun
Apprentice
Joined: 20 Feb 2006
Posts: 11
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 Posted: 01/02/08 - 06:00 Post subject: |
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| My wife and I are getting a divorce after 6 years of marriage. This is my first marriage and it is really difficult to face the fact that we will no longer live together in our house. Since we have two children, I decided to move out and find myself a new house. I'm a first time divorcee and when we got married, we bought co owned house. My plan is to live her house, to be more accurate, to retain no interest in it. What is my position regarding stamp duty rate? |
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guglielma
Apprentice
Joined: 24 Sep 2006
Posts: 2
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| Posted: 02/01/08 - 00:34 Post subject: |
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| Stamp duty is tax payable at the moment of transfer of property. It's not relevant is it about giving it away or selling it. But, in your case it is about something else. Important thing is that you are, since you are divorcing, in the same position as first time buyers. But, your wife and you have to be legally divorced, not just separated. The stamp duty rate is the lowest for first time buyers. Spouses who are divorced are also entitled to this stamp duty rate if the other party has remained in the family home. |
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