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propertylawyer, Solicitor
Category: Law
Satisfied Customers: 288
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.
C. parr
Submitted: 1 year ago.
Category: Law
Expert:  propertylawyer replied 1 year 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 1 year 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 1 year ago.
Sorry for delay. In replying, urgent matters to deal with
Expert:  propertylawyer replied 1 year 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 1 year ago.

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

Expert:  propertylawyer replied 1 year 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 1 year 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.