50/50

[vla]

What is the best way to sell 50% of an investment property to a friend so I can still legally own 50% of the IP and the friend owns 50%? Do I need to change the house deed?advice appreciated.

 

[Propertunity]

It's pretty easy. Go and pay for a registered valuation - from a valuer.
If this comes back say at $400K. Then sell 50% to your friend at $200K. Your friend will need to pay stamp duty on the $200K purchase price. You as the seller may have to pay CGT on the sale if there has been any CG on the IP since you purchased it.

A solicitor or conveyancer can see to the paperwork as to new ownership on title etc.

 

[cu@thetop]

What is the best way to sell 50% of an investment property to a friend so I can still legally own 50% of the IP and the friend owns 50%? Do I need to change the house deed?advice appreciated.

May be a way to lose a friend.

 

[JWR]

Not if its a good property likely to grow a lot with positive cash flow. May become stronger friends and may lead to a large portfolio being built together over time.