Hello,
I was just hoping to get some help on stamp duty implications on buying out a share of the house we co-own.
My partner and I co-own a property with her family with the shares being, mine 23.5%, hers 23.5%, her brother 17% and her parents 36%. Only myself, my partner and her brother are on the title. My partner and I are now married and we wish to buy her brothers 17% of the property and this is where it become quite unclear to me, as my wife's parents are not on the title how would stamp duty be calculated?
Is the stamp duty just calculated on the dollar value that we pay her brother or does it get a lot more complicated?
Your help is much appreciated.
I was just hoping to get some help on stamp duty implications on buying out a share of the house we co-own.
My partner and I co-own a property with her family with the shares being, mine 23.5%, hers 23.5%, her brother 17% and her parents 36%. Only myself, my partner and her brother are on the title. My partner and I are now married and we wish to buy her brothers 17% of the property and this is where it become quite unclear to me, as my wife's parents are not on the title how would stamp duty be calculated?
Is the stamp duty just calculated on the dollar value that we pay her brother or does it get a lot more complicated?
Your help is much appreciated.
