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Buying a share of a flat
My partner owns a long leasehold apartment worth approx 250,000 sterling,which is subject to a mortgage of 100,000 sterling still outstanding.I have agreed to buy half of the apartment from my savings and pay her approx 125,000.She will then clear off the mortgage.We will then become equal joint owners -On the face of it,this seems a simple transaction,so do I need a solicitor ? And also will this be subject to stamp duty ?
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You are in the UK ? Don't exactly know terminology of 'stamp duty', but know for sure you need a solicitor to make every aspect of your transaction perfectly clear and so you understand any loopholes that may arise from being a flat shareholder with her. That is a lot of money you are handing over to her. Tick |
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