Property News · September 5, 2022

Should I sell my rental flat to buy out my partner from the house we bought together?


I fear I face capital gains tax bill of £100,000 or more if I sell it without living back in it for two yearsQ My partner and I are splitting up, sadly, but amicably, after 12 years together. We have two children, aged eight and six. The issue has become how we afford the new living arrangements without uprooting the kids from the area, and their friends and school. We want to share custody and stay where we currently live. At present, we rent a flat for her while I stay in the house we bought together. We are both happy with this arrangement as are the kids. Our joint account pays for the rent and the mortgage until we can organise the long-term solution – worked out at the separation service Relate – which is for me to buy her out. But because the area where we live is becoming increasingly pricey, this could be a financial struggle. Continue reading…

Source : theguardian.com
Read more…Should I sell my rental flat to buy out my partner from the house we bought together?

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