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propertylawyer
propertylawyer, Solicitor
Category: Law
Satisfied Customers: 233
Experience:  Property Solicitor with expertise in commercial and residential property transactions.
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I jointly own a property here in England. I live in

Customer Question

I jointly own a property here in England. I live in Australia. Is it possible I can either transfer my share to my sister or cousin in lieu of a payment for the estimated value of my share. I am an Australian and as such am only liable for Australian taxes wherever my assets are worldwide.
Regards
C. parr
Submitted: 4 months ago.
Category: Law
Expert:  propertylawyer replied 4 months ago.

Hello Chris

It is possible to transfer your share to either party.

Do you need to know the process and the forms to use?

Customer: replied 4 months ago.
Thank you. We are joint tenants there is no mortgage or any other charges. My sister or first cousin are. Both residents of the U.K. And subject to UK taxes. Can I simply receive payment for my share and apart from statutory UK taxes accept payment in cash, so to speak?
Customer: replied 4 months ago.
Sorry for delay. In replying, urgent matters to deal with
Expert:  propertylawyer replied 4 months ago.

There is no reason why your sister or cousin cannot acquire the share for cash. From your point of view you will need to check the position in Australia regarding tax.

Expert:  propertylawyer replied 4 months ago.

Do let me know if you have any questions or queries.

Expert:  propertylawyer replied 4 months ago.

Hi, do you need any further assistance? I'm happy to assist further.

Please can I ask you to take a moment to accept my answer otherwise I will not receive credit for helping you. Many thanks.

Expert:  propertylawyer replied 4 months ago.

Hi Chris

Can I assist you with this. Just following up to see if you are happy with the answer or need further assistance.

If not, please can you accept / positive rate my reply. Many thanks.

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