Hi All,
I am looking at another scenario with my friend and I just had a couple of questions regarding consolidating land.
Scenario - Friend owns property with his name on title and is looking to purchase neighbors property. Once acquired is keen to sell the land to a developer for a premium.
Questions:
Is it simple to consolidate adjoining land if you own the title to both properties? Or is this not really required? Are you able to perhaps sell both parcels separate and the developer can purchase them consolidated within a set structure.
What are the affects of CGT if consolidated and sold? Would half the property be exempt if it is your PPOR or does the clock re-set?
Thanks in advance
Ben
I am looking at another scenario with my friend and I just had a couple of questions regarding consolidating land.
Scenario - Friend owns property with his name on title and is looking to purchase neighbors property. Once acquired is keen to sell the land to a developer for a premium.
Questions:
Is it simple to consolidate adjoining land if you own the title to both properties? Or is this not really required? Are you able to perhaps sell both parcels separate and the developer can purchase them consolidated within a set structure.
What are the affects of CGT if consolidated and sold? Would half the property be exempt if it is your PPOR or does the clock re-set?
Thanks in advance
Ben