Hi,
My husband and I jointly and outrightly own a block of land bought a few years ago for us to build our retirement house on.
We have now decided to subdivide this block.
We will be subdividing and building 2 houses on this property and keeping them both for cash flow.
We have never claimed anything on this property as was for future ppor purposes.
I would like to have the title solely in my husbands name to maximise our future incomes so my questions are..
Do we need to do this before subdivision?
How do we go about it?
Do I have to "sell" my half to my husband even though no money will change hands? And if so will I pay stamp duty?
Any other way around this?
Thanks in advance
abi
My husband and I jointly and outrightly own a block of land bought a few years ago for us to build our retirement house on.
We have now decided to subdivide this block.
We will be subdividing and building 2 houses on this property and keeping them both for cash flow.
We have never claimed anything on this property as was for future ppor purposes.
I would like to have the title solely in my husbands name to maximise our future incomes so my questions are..
Do we need to do this before subdivision?
How do we go about it?
Do I have to "sell" my half to my husband even though no money will change hands? And if so will I pay stamp duty?
Any other way around this?
Thanks in advance
abi