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Not married, 18 years she had an affair & left. (but its all my fault of course!)
It seems than if I buy her share of our family home for me & the kids to reside in, then because its going to be over 125000 pounds then i have to pay 1% stamp duty! in my case 2k!1 👿 👿 👿 👿 C&E! that's absolutely appalling!
Can we? if we could? decide & agree the settlement of the house is 123495 pounds & pay a separate sum of 75005 as in-respect of compensation for separation. Thus avoid any stamp duty?
Hi there,
You can sort the finances in any way that suits, so in effect you could buy the house from her for £1 and then agree to pay her a one off fee of £xxx as far as I know any way, I would talk to a solicitor and just double check though.
GTTS
I'm pretty sure that because of the amount, you could be breaking the law in doing so (if it was close to the threshold, you might have got away with it). I'm also reasonably sure that a solicitor would probably refuse to help you in doing that, but they may know other ways around it. I wonder whether she could keep the share in your house, and you could buy a share in her new house - then at a later date, you might be able to swap shares - it may be totally impractical, but if it can be done, it may at least delay the stamp duty payments until the house is sold, if nothing else. But as gtts says, get legal advice on this.
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