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Harris
Harris, Law Specialist
Category: Law
Satisfied Customers: 2851
Experience:  Family Law - Specialist in Divorce, Financial Relief and Children Matters
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I own a 50 % share in a flat, I'm about to sell my house and

Resolved Question:

I own a 50 % share in a flat, I'm about to sell my house and buy another , to avoid paying the higher rate of stamp duty can I gift the flat to my 8 year old daughter, or transfer it in total to my sister?
Submitted: 1 year ago.
Category: Law
Expert:  Harris replied 1 year ago.
Hi, thank you for your question. Just a bit more information required to fully assist you:-Are you in England or Wales?-Are you planning on selling the flat that you own 50% of or is it a different property you are planning on selling?
Customer: replied 1 year ago.
I'm in England, it's a different property I'm selling
Expert:  Harris replied 1 year ago.
Thank you - please confirm how many properties you have, and if the property you are selling is your main residence, and is to be replaced by the new purchase?
Customer: replied 1 year ago.
The property I'm selling is my home ie my residence and yes will,be replaced by the purchase. I only have this and the that that I share with my sister...my daughter is also invested I. It , as it is an inheritance
Expert:  Harris replied 1 year ago.
Thanks for confirming - as you are replacing your main residence with a new property which will be a new main residence, you will not be subject to higher rate stamp duty. If your current main residence is not sold prior or simultaneously as your new purchase then the previous main residence must be sold within 18 months of the purchase of the new main residence for you to be exempt from higher rate stamp duty.I hope this assists you. If you found this information helpful please provide a positive rating using the stars at the top of this page. I will not be credited for answering your question without a positive rating. Thank you
Expert:  Harris replied 1 year ago.
Hi, this question remains open. If you found my information provided helpful please could you rate my response positively using the stars at the top of this page as I will not be credited for my response without a positive rating.
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