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From: Glenn M
I was just wondering the best structure to purchases an Investment Property with my wife. I believe that a Tenants in Common structure would be the most advantageous structure as in 2-3 years from now, we are looking at having children. At this time, she won't be earning any income, so our % ownerships can then change to 99% me and 1% her. We just don't want to miss out on some huge tax deductions that would otherwise go to waste. Can anyone help me as to whether this is the best structure? Using a Tenants in Common vehicle, can the ownership % be changed at any time?
By the way, who creates a Tenants in Common structure...an accountant or the solicitors? How much does this usually cost to create?
Hope someone can help me soon as we are looking at purchasing within the next two weeks.
GlennM.
I was just wondering the best structure to purchases an Investment Property with my wife. I believe that a Tenants in Common structure would be the most advantageous structure as in 2-3 years from now, we are looking at having children. At this time, she won't be earning any income, so our % ownerships can then change to 99% me and 1% her. We just don't want to miss out on some huge tax deductions that would otherwise go to waste. Can anyone help me as to whether this is the best structure? Using a Tenants in Common vehicle, can the ownership % be changed at any time?
By the way, who creates a Tenants in Common structure...an accountant or the solicitors? How much does this usually cost to create?
Hope someone can help me soon as we are looking at purchasing within the next two weeks.
GlennM.
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