Property in partner's name

We have recently purchased a property and initially signed the contract in both names.....

My wife works limited hours and I am the primary income earner so for this reason I thought maybe to put in my name as it is negative gearing and I will get all the decuctions. Obviously I will have to pay all the CG if we sell - however unlikely we will. I also thought about trusts but not worth it yet as it is not generating returns being in inner west, it is the growth mainly that will hopefully see this investment through.

Are there any problems putting it in just one name if we would like to gain a loan? I am now thinking it may be better to put in my name as long as we can get funds.

In addition, if we purchase say as tenants in common it is my understanding we will both be up for 100% of the value of the land according to the OSR, is this correct? ie say if my wife has other property in her name this will add onto the value and therefore may be a better idea to put in my name?

Any feedback would be much appreciated.

Thanks
 
buyer is me and/or wife

And another point I forgot to mention, we purchased the property in 'husband and/or wifes name'..... We are unsure if we should change this as I would like to simply put this in my name - potentially... Speaking to solicitor tomorrow so would be good to get some feedback first.

Thanks guys

R
 
If you've signed the contract it MIGHT be too late. It's really a qn for your conveyencor or solicitor.

You can purchase in your name only and still have the loan in two names. Deductability goes on who owns the property, not who's on the loan. So you can both be borrowers but you still claim 100% of the deductions.
 
Not signed yet - agents are holding onto it......

Will maybe keep as tenants in common - 99/1 to keep my wife happy, even though loan will probably be in my name.....

Servicing seems hard at the mo!!
 
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