How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • Go back-and-forth until satisfied
    Rate the answer you receive.
Ask Jeremy Aldermartin Your Own Question
Jeremy Aldermartin
Jeremy Aldermartin, Solicitor
Category: Family Law
Satisfied Customers: 5813
Experience:  Dual qualified Solicitor and Attorney
65242892
Type Your Family Law Question Here...
Jeremy Aldermartin is online now

I am selling a property which is mine when I separated from

This answer was rated:

I am selling a property which is mine when I separated from wife in2010 it was agreed that I have money and this property that she originally had through inheritance
JA: Where are you? It matters because laws vary by location.
Customer: stoke on trent england
JA: What steps have you taken so far?
Customer: In process of selling. In fact sold subject to contract
JA: Anything else you want the Lawyer to know before I connect you?
Customer: yes 10year ago it was approx 90k in value and it selling for 79k due to damage. Will I have pay capital gains tax on assets gains through separation agreement as ex wife kept house
Customer: replied 1 month ago.
The reason it’s taken 10 year to sell is because we made a agreement that her aunts continued to live there for free until she died. She passed away January this year
The aunts lived there all her live it was apparently a stipulation with the inheritance
Customer: replied 1 month ago.
I asked this question two hours ago and still don’t have any answers

Hi thank you for your message, you would not generally pay capital gains on property that was your home or was occupied by a dependent relative. Therefore it is likely that you would not need to pay CGT in this instance. I hope this helps, if you can please accept my answer and rate me 5 stars (in the top right of your screen) then Just Answer will credit me for helping you today.

Customer: replied 1 month ago.
It was my ex wife’s relative. Ex wife give me house as part of divorce settlement in order that she take control of our joint property
If I am not eligible for CGT then do I need do nothing once house is sold?

A return will likely need to be made to confirm that nil CGT is payable. I hope this helps, if you can please accept my answer and rate me 5 stars (in the top right of your screen) then Just Answer will credit me for helping you today.

Customer: replied 1 month ago.
Who would be best to contact to fill out this form. Would it be an accountant?
The approx value upon separation was £90000 it is being sold for £79000 would this too make a difference to any potential CGT

A property lawyer such as a conveyancer. The CGT is on the age of sale or transfer. I hope this helps, if you can please accept my answer and rate me 5 stars (in the top right of your screen) then Just Answer will credit me for helping you today.

Jeremy Aldermartin and other Family Law Specialists are ready to help you