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Really appreciate some help here. Lets just say we have continued to defer any action on a Divorce. The new property will be 100% in my ex wifes name. Effectively she has lived there for 20 years as her own and I want her to have some freedom to do what she wants. I have in effect gifted her my share ( or thats what I think we are doing ? )
Now you've got me !! In addition to the marital home she has lived in alone for the last 20 years I rented for 10 years and the last 10 have an apartment in my name ( of exactly the same value ). Sorry Clare hope this helps build the picture. In simple terms and in our own way we just want to keep life simple and each do our own thing. This is only influenced by me still being part owner and us wanting to minimise any exposure to taxes. Paul.
That really depends. I may if there are no implications but IF there is exposure then I will defer any such action. I just want to try and get it right. At the end of the day we were thinking we have a choice. Either we just sell the marital home as a couple and she keeps the proceeds (or) we go the transfer route. As I say - I just want to try and get it right. We are not trying to avoid what needs to be done - but we don't want to make any costly mistakes.