Recently divorced & am having difficulty getting property settlement finalised.(avoiding solicitors) The loan & title deeds have his two brother's names on, as they went guarantors, but never paid into the house. I think it's just the stamp duty issues that are preventing him from just signing the house over to me. This is all alien to me, as I've no Idea myself how much the stamp duty fees would be, to remove their three names.
Stamp duty costs for removal of names
- Thread starter Candice
- Start date
If their (bros) names are on title then they are not guarantors, but owners. They will need to transfer their share of the house to you at current market rates and stamp duty and CGT will apply (unless it was their main residence).
Thanks for that Terry. The Bros have had nothing at all to do with the house, (including no mortgage repayments)My Ex says that they are on the remaining minimal debt as well as the title. I really need to gain as much info as possible before I waste another cent with the solicitor. My Ex is just playing mind games, knowing I'm not knowledgeable in this department. Now suggesting random options including selling up, which I don't want as I still have a child at home. confusing .
It cost almost $1,000 to have letters of instructions posted to him, which he ignored. I obtained yet another copy, which was handed it to him with served divorce papers and still no response. It's obvious that he hopes that if he doesn't deal with things they might go away. Maybe he's more clueless than I am!
Keep focused on your end goal Candice. I can only imagine how hard it is as I've never been through it myself.
On the positive side, it'll be a great learning curve for you & maybe you'll surprise yourself as much as your ex when it all finally comes together & is sorted.
Wishing you all the best
On the positive side, it'll be a great learning curve for you & maybe you'll surprise yourself as much as your ex when it all finally comes together & is sorted.
Wishing you all the best
Just a quick up-date. My solicitor is looking into the waivering situation before contacting the Ex and I have an appointment with bank manager re. re-financing remaining minimal loan repayments. Think someone slipped me a smart pill! Just your responses have been supportive and motivating, so thank you!
Hi everyone,
Just thought I'd post something on this topic, i've just gone through it myself...pretty stressful actually!
I had 2 names on the mortgage and title, then broke up with my fiancee. The break up was amicable (had to make sure it was).
You can avoid paying stamp duty on transfer of title as long as you have a solicitor write up a financial agreement where the other partner just gives you their share and noone owes any money to the other.
Once the other partner signs the paperwork with their solicitor, you can get get the mortgage discharged and titles changed. This is the step where the other solicitor advises their client that they are entitled to $$$ and they ask you for some money, so it can get a little tricky if they're out to make a buck out of you.
Hope that helps someone in future.
Just thought I'd post something on this topic, i've just gone through it myself...pretty stressful actually!
I had 2 names on the mortgage and title, then broke up with my fiancee. The break up was amicable (had to make sure it was).
You can avoid paying stamp duty on transfer of title as long as you have a solicitor write up a financial agreement where the other partner just gives you their share and noone owes any money to the other.
Once the other partner signs the paperwork with their solicitor, you can get get the mortgage discharged and titles changed. This is the step where the other solicitor advises their client that they are entitled to $$$ and they ask you for some money, so it can get a little tricky if they're out to make a buck out of you.
Hope that helps someone in future.
