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JGM, Solicitor
Category: Scots Law
Satisfied Customers: 12195
Experience:  30 years as a practising solicitor.
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A property in Dundee was purchased in 2009 for our discretionary

Customer Question

A property in Dundee was purchased in 2009 for our discretionary trust. The trustees are considering a transfer of this property to the beneficiary of the trust Would this transfer incur a stamp duty charge as it is a change of ownership. No monetary consideration would apply to this transfer.
Submitted: 4 years ago.
Category: Scots Law
Expert:  JGM replied 4 years ago.
Thank you for your question.

As long as there is no monetary or non monetary consideration for the transfer there is no stamp duty payable. A non monetary consideration could be, for example, taking on responsibility for a loan over the property.

I hope this helps. Please leave a positive response so that I am credited for my time.