NSW Co-ownership

[Claudia]

Hi
I want to sell my daughter my investment property. Initially we are thinking of doing this as her being a co-owner giving me approx 1/3 of the price as this is the only loan she can get right now, self employed low docs.
in 12 to 24 months time she will asked he bank for the rest and buy me out totally. What I want to know is:

Can 2 separate banks have interests in one property?
Can I take the 1/3 and transfer a share of the property into her name?
Will I be up for capital gains tax?
Can I gift her the home that has a mortgage?
Any advice about what are our best options would be greatly appreciated.

Thanks

 

[Rod]

Can 2 separate banks have interests in one property?
Can I take the 1/3 and transfer a share of the property into her name?
Will I be up for capital gains tax?
Can I gift her the home that has a mortgage?

1. Yes
2. Yes
3. Probably, but see accountant
4, Yes, BUT need banks approval.