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Showing results for tags 'splitting deeds'.
Hi My father-in-law's interest only mortgage ends in around 18 months. He does not have the cash to settle the outstanding amount, and due to his age is not going to be able to remortgage over a term that will make it affordable for him on a monthly basis. Being a builder, he took the decision a couple of years ago to split his property (which he originally built himslef, and is a detached property) in to two with a view to selling one half of it to fund the mortgage, now that all his kids are grown up and moved away. He did not speak to the mortgage company before commenci
With two business partners we are setting up a LTD company with the aim of building a BTL portfolio. We are want to know if dividing the portfolio is a possible exit strategy. I assume this would mean the company would sell 1/3 of the properties to the leaving shareholder and the sale will be taxed on Capital Gains and Stamp Duty. Is there a practical strategy we can implement while structuring the LDT that would help us avoid taxation later? I was thinking of an ownership rota: As the portfolio grows, each partner gets ownership of 1 property while the other two get the first charge
Hi everyone, Need some urgent advise so if anyone can help I'd really appreciate it? So here is the situation and scenario... Home owner with a mortgage with large area of land which is all part of my property Applied for, paid and successful in planning application for a 2nd house to be built on that land. So Planning Permission for a 2nd house has been granted. Developer made us an offer to purchase the house and the land... we accepted the deal although it was 20k lower then we expected. 11 weeks later he is now telling us we need to split th